TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares

Rhea-AI Summary

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.

Positive

• Quarterly dividends provide consistent income for shareholders.
• Demonstrates company confidence in ongoing financial health.

Negative

• None.

ATHENS, Greece, Nov. 05, 2021 (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 $0.546875 per share for its Series D Cumulative Perpetual Preferred Shares (the “Series D Preferred Shares”; NYSE; TNPPRD) and the regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TNPPRE).

The dividend on the Series D and Series E is for the period from the most recent dividend payment date of August 28, 2021 through November 27, 2021.

The dividend on the Series D and E Preferred Shares will be paid on November 29, 2021 to all holders of record of Series D and E Preferred Shares as of November 23, 2021. Dividends on the Series D and E Preferred Shares are payable quarterly in arrears on the 28^th day (unless the 28^th 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 26^th dividend on the Series D and the 19^th dividend on the Series E since their commencement of trading on the New York Stock Exchange.

TEN has 3,515,245 Series D and 4,743,708 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 28 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 71 double-hull vessels, including one LNG carrier, one suezmax DP2 shuttle tanker and four dual-fuel aframax vessels under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 8.0 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

FAQ

What is the dividend amount for Tsakos Energy Navigation's Series D and E preferred shares?

The quarterly dividend is $0.546875 for Series D and $0.578125 for Series E.

When will the dividends for Series D and E be paid?

Dividends will be paid on November 29, 2021.

What is the record date for the dividend payment of Tsakos Energy Navigation?

The record date for the dividend payment is November 23, 2021.

How often does Tsakos Energy Navigation pay dividends on its preferred shares?

Dividends are payable quarterly in February, May, August, and November.