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

Rhea-AI Summary

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has announced a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). The dividend covers the period from July 30, 2024, through October 29, 2024, and will be paid on October 30, 2024 to all holders of record as of October 25, 2024.

This marks the 25th dividend on the Series F Preferred Shares since their listing on the New York Stock Exchange. TEN currently has 6,747,147 Series F Preferred Shares outstanding. Dividends on these shares are payable quarterly in arrears on the 30th day of January, April, July, and October each year, subject to declaration by TEN's board of directors.

Positive

• Consistent quarterly dividend payment for Series F Preferred Shares
• 25th consecutive dividend payment since NYSE listing, indicating stability
• Large number of outstanding Series F Preferred Shares (6,747,147)

Negative

• None.

ATHENS, Greece, Oct. 04, 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 approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE: TENPRF).

The dividend on the Series F Preferred Shares is for the period from the most recent dividend payment date on July 30, 2024, through October 29, 2024.

The dividend on the Series F Preferred Shares will be paid on October 30, 2024 to all holders of record of Series F Preferred Shares as of October 25, 2024. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30^th day (unless the 30^th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN’s board of directors. This is the 25^th dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,747,147 Series F Preferred Shares outstanding as of the date of this press release.

ABOUT TEN Ltd.
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

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

TEN has declared a quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares.

When will TEN (NYSE: TEN) pay the dividend on its Series F Preferred Shares?

The dividend on TEN 's Series F Preferred Shares will be paid on October 30, 2024, to all holders of record as of October 25, 2024.

How often does TEN pay dividends on its Series F Preferred Shares?

TEN pays dividends on its Series F Preferred Shares quarterly, typically on the 30th day of January, April, July, and October each year, subject to board approval.

How many Series F Preferred Shares does TEN have outstanding?

As of the date of the press release, TEN has 6,747,147 Series F Preferred Shares outstanding.