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

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TEN Ltd. declares regular quarterly cash dividend for Series F Preferred Shares

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• TEN Ltd. has declared a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend is for the period from July 30, 2023, to October 29, 2023. The dividend will be paid on October 30, 2023, to all holders of record as of October 25, 2023.

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ATHENS, Greece, Oct. 05, 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 approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE: TNPPRF).

The dividend on the Series F Preferred Shares is for the period from the most recent dividend payment date on July 30, 2023 through October 29, 2023.

The dividend on the Series F Preferred Shares will be paid on October 30, 2023 to all holders of record of Series F Preferred Shares as of October 25, 2023. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30^th day (unless the 30^th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN’s board of directors. This is the 21^st dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,747,147 Series F 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 for TEN Ltd.'s Series F Preferred Shares?

The dividend amount for TEN Ltd.'s Series F Preferred Shares is approximately $0.59375 per share.

When will the dividend be paid?

The dividend will be paid on October 30, 2023.

Who is eligible to receive the dividend?

All holders of record of Series F Preferred Shares as of October 25, 2023, are eligible to receive the dividend.

How often are dividends on the Series F Preferred Shares paid?

Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30th day of January, April, July, and October of each year.

How many Series F Preferred Shares are outstanding?

As of the date of this press release, TEN has 6,747,147 Series F Preferred Shares outstanding.