Teekay Tankers has again held back potential dividend payments to investors as it recorded a profitable start to the year.

New York-listed Teekay has a strategy to pay out between 30% and 50% of adjusted net income to shareholders and logged a profit of $12.4m in the opening three months of 2019.

However, repeating a stance taken in the final quarter of 2018, the shipowner opted instead to keep...