TEN Ltd. Declares Dividend on its Series E Cumulative Perpetual Preferred Shares

Rhea-AI Summary

TEN has announced a quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares. The dividend covers the period from August 28, 2024, through November 27, 2024, and will be paid on November 29, 2024, to shareholders of record as of November 25, 2024. This marks the 31st dividend payment since the Series E Preferred Shares began trading on the NYSE. The company currently has 4,745,947 Series E Preferred Shares outstanding.

Positive

• Regular quarterly dividend maintained at $0.578125 per share
• Consistent dividend payment history (31st consecutive payment)
• Large preferred share base with 4,745,947 shares outstanding

Negative

• None.

ATHENS, Greece, Nov. 06, 2024 (GLOBE NEWSWIRE) -- TEN Ltd. (“TEN”) (NYSE: TEN) (the “Company”), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TENPRE).

The dividend on the Series E Preferred Shares is for the period from the most recent dividend payment date of August 28, 2024 through November 27, 2024.

The dividend on the Series E Preferred Shares will be paid on November 29, 2024 to all holders of record of Series E Preferred Shares as of November 25, 2024. Dividends on the Series E Preferred Shares are payable quarterly in arrears on the 28^th day (unless the 28^th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by TEN’s board of directors. This is the 31^st dividend on the Series E Preferred Shares since their commencement of trading on the New York Stock Exchange.

TEN has 4,745,947 Series E Preferred Shares outstanding as of the date of this press release.

ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993 and celebrating this year 31-years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 8.9 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact :

Company
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
ten@capitallink.com

FAQ

When will TEN (NYSE:TEN) pay its next Series E Preferred Share dividend?

TEN will pay its Series E Preferred Share dividend on November 29, 2024.

What is the dividend amount for TEN's Series E Preferred Shares?

The quarterly dividend amount is $0.578125 per share for Series E Preferred Shares.

What is the record date for TEN's Series E Preferred Share dividend?

The record date is November 25, 2024, for TEN's Series E Preferred Share dividend.

How many Series E Preferred Shares does TEN have outstanding?

TEN has 4,745,947 Series E Preferred Shares outstanding as of the announcement date.