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NEW YORK (AP) -- Teekay Corp. said Friday its board approved a 16 percent increase in the company's quarterly cash dividend, lifting the payout to 27.5 cents per share from 23.75 cents in the previous quarter. The dividend will be paid on Oct. 29 to shareholders of record at Oct. 15. Teekay transports seaborne oil, operates in the offshore production, storage and transportation sector, and has expanded into the liquefied natural gas shipping sector.
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