Tsakos Energy Navigation Ltd. - TNP STOCK NEWS

TEN Ltd (NYSE:TNP) announced the extension of charters for two aframax tankers for a total of 48 months with a major oil company, resulting in $500 million in new secured contracts. This adds to the 10 long-term contracts secured in the last three months, which include both fixed and profit-sharing agreements. The new charter agreements are expected to enhance cash flow visibility and flexibility, aligning with the growing demand for tanker services, as stated by COO George Saroglou.

TEN Ltd (NYSE:TNP) recently announced long-term charters for two VLCCs, expected to generate gross revenues exceeding $110 million over three to five years. The contracts include profit-sharing arrangements with major oil companies, indicating a recovery in the tanker market. COO George Saroglou highlighted that these flexible contracts are central to TEN's strategy, providing both downside protection and upside potential. The company is also exploring further opportunities with high-caliber clients and plans to deliver a new LNG carrier next quarter.

Tsakos Energy Navigation (NYSE: TNP) announced a quarterly cash dividend of $0.546875 for Series D and $0.578125 for Series E Cumulative Perpetual Preferred Shares. This dividend covers the period from August 28, 2021 to November 27, 2021, with payment set for November 29, 2021 to eligible shareholders as of November 23, 2021. This marks the 26th dividend for Series D and the 19th for Series E since they began trading on the NYSE. Currently, there are 3,515,245 Series D and 4,743,708 Series E shares outstanding.

Dr. Nikolas P. Tsakos, Founder and CEO of Tsakos Energy Navigation (TNP), has been inducted into the International Maritime Hall of Fame for his significant contributions to the maritime industry. This prestigious honor was conferred during the 27th annual ceremony held on October 5, 2021, in New York, attended by prominent industry representatives. Tsakos Energy Navigation, established in 1993, operates a diversified fleet of 71 vessels, including various tankers and an LNG carrier, with a total capacity of 8 million dwt.

On October 8, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend covers the period from July 30, 2021, to October 29, 2021, and will be paid on November 1, 2021, to shareholders on record as of October 27, 2021. This marks the 13th dividend declared since the Series F began trading on the NYSE, with 6,612,528 shares outstanding.

On October 7, 2021, TEN, Ltd (TNP) reported a half-year revenue of $275 million despite challenging market conditions, and a net debt reduction of $87 million. The company's countercyclical strategy allowed it to maintain a fleet utilization rate of 92.3% and secure long-term charters. Adjusted EBITDA stood at $66.8 million. Upcoming plans include a dual-fuel tanker newbuilding program with potential gross revenues of $350 million. The company also paid a semi-annual dividend of $0.10 per share, continuing its commitment to shareholder returns.

ATHENS, Greece, Oct. 04, 2021 (GLOBE NEWSWIRE) -- TEN, Ltd. (NYSE:TNP) announced it will report earnings for Q2 ended June 30, 2021, before market opening on October 7, 2021. The company will host a conference call at 11:00 a.m. ET to discuss the results and management's business outlook, which may expand on earnings details. Participants should dial in 10 minutes early. The call will also feature an archived audio file available on TEN's website.

TEN operates a diverse fleet of 67 double-hull vessels, including an LNG carrier and a shuttle tanker under construction.

On August 6, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of $0.546875 per share for its Series D Preferred Shares and $0.578125 per share for Series E Preferred Shares. The dividends cover the period from May 28 to August 27, 2021, with payment scheduled for August 30, 2021. Holders of record as of August 25, 2021 will receive these dividends. This marks the 25th dividend for Series D and the 18th for Series E since debuting on the NYSE. TEN has a total of 3,484,979 Series D and 4,701,377 Series E shares outstanding.

On July 8, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of approximately $0.59375 per share on its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend covers the period from April 30, 2021, to July 29, 2021, and will be paid on July 30, 2021. Shareholders of record as of July 27, 2021 will receive this payment. TEN has 6,291,199 Series F Preferred Shares outstanding and this represents the 12th dividend since trading commenced on the NYSE.