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

Rhea-AI Summary

TEN Ltd. (NYSE: TNP) declares a regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (TNPPRE) payable on November 28, 2023 to holders of record as of November 22, 2023.

Positive

• The declaration of the regular quarterly cash dividend demonstrates the company's commitment to providing returns to its shareholders.
• The consistent payment of dividends on the Series E Preferred Shares since their commencement of trading on the New York Stock Exchange indicates stability and reliability.

Negative

• None.

ATHENS, Greece, Nov. 07, 2023 (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 $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TNPPRE).

The dividend on the Series E Preferred Shares is for the period from the most recent dividend payment date of August 28, 2023 through November 27, 2023.

The dividend on the Series E Preferred Shares will be paid on November 28, 2023 to all holders of record of Series E Preferred Shares as of November 22, 2023. Dividends on the Series 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 27^th dividend on the Series E Preferred Shares since their commencement of trading on the New York Stock Exchange.

TEN has 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 30 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 68 double-hull vessels, including four dual-fuel LNG powered aframax vessels, two DP2 shuttle tankers, two scrubber-fitted suezmax vessels and two scrubber-fitted MR product tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.4 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 declared by TEN Ltd. for its Series E Preferred Shares?

TEN Ltd. declared a regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares.

When will the dividend on the Series E Preferred Shares be paid?

The dividend on the Series E Preferred Shares will be paid on November 28, 2023 to all holders of record of Series E Preferred Shares as of November 22, 2023.

How often are dividends on the Series E Preferred Shares payable?

Dividends on the Series E Preferred Shares are payable quarterly in arrears on the 28th day of February, May, August, and November of each year.

How many Series E Preferred Shares are outstanding as of the date of this press release?

TEN has 4,745,947 Series E Preferred Shares outstanding as of the date of this press release.