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

Rhea-AI Summary

TEN (NYSE: TEN) has announced its Board of Directors' declaration of a regular quarterly cash dividend of $0.59375 per share for Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). The dividend covers the period from January 30, 2025, through April 29, 2025, and will be paid on April 30, 2025, to shareholders of record as of April 25, 2025.

This marks the 27th dividend payment for the Series F Preferred Shares since their NYSE listing. The company currently has 6,747,147 Series F Preferred Shares outstanding. Dividends are paid quarterly in arrears on the 30th of January, April, July, and October, subject to business day adjustments and board declaration.

Positive

• Consistent dividend payments maintained for 27 consecutive quarters
• Regular quarterly income stream for preferred shareholders
• Large preferred share base with 6.7M shares outstanding

Negative

• None.

ATHENS, Greece, April 04, 2025 (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 January 30, 2025, through April 29, 2025.

The dividend on the Series F Preferred Shares will be paid on April 30, 2025 to all holders of record of Series F Preferred Shares as of April 25, 2025. 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 27^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 32-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 82 vessels, including twelve 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 10.1 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 in Q2 2025?

TEN's Series F Preferred Shares will pay $0.59375 per share for Q2 2025.

When is the payment date for TEN's latest Series F Preferred Share dividend?

The dividend will be paid on April 30, 2025, to shareholders of record as of April 25, 2025.

How many Series F Preferred Shares does TEN have outstanding?

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

How often are dividends paid on TEN's Series F Preferred Shares?

Dividends are paid quarterly in arrears on January 30, April 30, July 30, and October 30, subject to business day adjustments.

How many consecutive dividends has TEN paid on its Series F Preferred Shares?

This is the 27th dividend payment since the Series F Preferred Shares began trading on the NYSE.