TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares
On November 8, 2022, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend for its preferred shares. The Board declared a dividend of $0.546875 per share for the Series D Cumulative Perpetual Preferred Shares and $0.578125 per share for the Series E Cumulative Perpetual Preferred Shares. These dividends cover the period from August 28, 2022, to November 27, 2022, with payment scheduled for November 28, 2022, to shareholders of record as of November 22, 2022. This marks the 30th dividend for Series D and the 23rd for Series E since trading began.
- Declaring quarterly dividends of $0.546875 and $0.578125 enhances shareholder income.
- Consistent dividend payments indicate company stability and investor confidence.
- None.
ATHENS, Greece, Nov. 08, 2022 (GLOBE NEWSWIRE) -- TEN Ltd. (“TEN”) (NYSE: TNP) (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
The dividend on the Series D and Series E is for the period from the most recent dividend payment date of August 28, 2022 through November 27, 2022.
The dividend on the Series D and E Preferred Shares will be paid on November 28, 2022 to all holders of record of Series D and E Preferred Shares as of November 22, 2022. Dividends on the Series D and E Preferred Shares are payable quarterly in arrears on the 28th day (unless the 28th 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 30th dividend on the Series D and the 23rd dividend on the Series E since their commencement of trading on the New York Stock Exchange.
TEN has 3,517,061 Series D and 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 29 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 70 double-hull vessels including four dual-fuel LNG powered aframax vessels under construction and a 2020-built scrubber-fitted South Korean-built VLCC to be delivered in the fourth quarter of 2022, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.1 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
COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
ten@capitallink.com
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