Tsakos Energy Navigation Ltd. - TNP STOCK NEWS

TEN, Ltd (NYSE: TNP) announced the extension of charters for two product tankers with profit sharing provisions, generating a minimum of $20 million in gross revenues over 24 months. If an additional 12-month option is exercised, total revenues could exceed $32 million. COO George Saroglou highlighted the importance of these contracts in ensuring earnings visibility and adapting to market cycles. TEN operates a diverse fleet of 68 vessels and remains optimistic about the economic recovery in 2021.

TEN, Ltd (TNP) reported a significant 130% increase in operating income year-over-year, with net income reaching $70.6 million for the nine months ended September 30, 2020. Gross revenues rose by 21.4% to $512.5 million, driven by strong fleet utilization at 95.2%. The company declared a total dividend of $0.50 per share for 2020, reflecting its commitment to shareholder returns. Additionally, TEN’s acquisitions are expected to generate $200 million in TCE revenues over five years, enhancing its financial outlook amidst the pandemic's challenges.

TEN, Ltd. (NYSE: TNP) has delivered the last vessel in a newbuilding program consisting of four ships, generating a minimum Time-Charter Equivalent (TCE) revenue of $200 million over five years. The vessels include two suezmaxes and two aframaxes, all contracted to an oil major. The company is also advancing its growth strategy with two additional vessels in the specialized sectors of DP2 shuttle tankers and LNG. TEN, established in 1993, operates a diverse fleet of 68 double-hull vessels.

ATHENS, Greece, Nov. 16, 2020 - TEN Ltd. (NYSE:TNP) will report its third quarter and nine months earnings on November 23, 2020, before the market opens. A conference call is scheduled for 10:00 a.m. Eastern Time the same day, where management will discuss results and provide an outlook. Participants can access the call using specified dial-in numbers. TEN operates a diversified energy fleet of 68 vessels, totaling 7.6 million dwt, and is celebrating 27 years as a public company.

Tsakos Energy Navigation's Board of Directors has declared a quarterly cash dividend of $0.546875 per share for its Series D Preferred Shares and $0.578125 per share for its Series E Preferred Shares. These dividends are for the period from August 28, 2020, to November 27, 2020, payable on November 30, 2020, to shareholders of record by November 24, 2020. This marks the 22nd dividend for Series D and the 15th for Series E since their trading began. A total of 3,424,803 Series D and 4,600,000 Series E shares are outstanding.

Tsakos Energy Navigation (TNP) announced a quarterly cash dividend of $0.5547 for its Series C Preferred Shares and $0.59375 for Series F Preferred Shares. The dividends cover the period from July 30, 2020, to October 29, 2020, and will be paid on October 30, 2020. Additionally, TNP is redeeming all 2,000,000 Series C Preferred Shares at a redemption price of $25.00 per share effective October 30, 2020, marking the final dividend payment for Series C. TNP currently has 6,000,000 Series F Preferred Shares outstanding.

TEN Ltd. (NYSE:TNP) announced it will report earnings for the second quarter and six months ending June 30, 2020, before the market opens on September 23, 2020. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss results and management's business outlook. TEN currently operates a fleet of 65 vessels and is constructing additional tankers, marking its 27th year as a public shipping company.

Tsakos Energy Navigation (TNP) announced a quarterly cash dividend of $0.546875 per share for its Series D Preferred Shares and $0.578125 for its Series E Preferred Shares. These dividends are for the period from May 28, 2020, to August 27, 2020, and will be paid on August 28, 2020, to holders of record as of August 25, 2020. TEN has a total of 3,424,803 Series D and 4,600,000 Series E shares outstanding, marking the 21st and 14th dividend payments, respectively. The company operates a diverse fleet, featuring 65 vessels exceeding 8.0 million dwt.

TEN, Ltd (NYSE:TNP) announced that its CEO, Dr. Nikolas Tsakos, will participate in a Capital Link Webinar. The event will include a discussion on TEN’s development, strategy, and market positioning, as well as insights into the tanker and LNG markets. The one-hour webinar will consist of a 40-minute discussion followed by a live Q&A session. TEN operates a diverse fleet of 65 vessels and celebrates 27 years in the capital markets.