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

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ATHENS, Greece, Jan. 03, 2023 (GLOBE NEWSWIRE) -- TEN Ltd. (NYSE: TNP) has declared a 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 October 30, 2022, to January 29, 2023, and will be paid on January 30, 2023, to holders of record as of January 25, 2023. This marks the 18th dividend declared since the Series F shares commenced trading on the NYSE. TEN currently has 6,747,147 Series F Preferred Shares outstanding.

Positive

• Quarterly cash dividend of approximately $0.59375 per share boosts shareholder income.
• 18th consecutive dividend declaration indicates financial stability and commitment to shareholders.
• Total of 6,747,147 Series F Preferred Shares outstanding showcases significant investor interest.

Negative

• None.

ATHENS, Greece, Jan. 03, 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 October 30, 2022 through January 29, 2023.

The dividend on the Series F Preferred Shares will be paid on January 30, 2023 to all holders of record of Series F Preferred Shares as of January 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 18^th 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 73 double-hull vessels including four dual-fuel LNG powered aframax vessels and two option one shuttle tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.5 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 January 2023?

TEN Ltd declared a quarterly cash dividend of approximately $0.59375 per share for its Series F Preferred Shares.

When will the dividend be paid to shareholders?

The dividend will be paid on January 30, 2023.

What is the record date for the dividend payment?

The record date for the dividend payment is January 25, 2023.

How often does TEN Ltd pay dividends on Series F Preferred Shares?

Dividends on Series F Preferred Shares are payable quarterly in January, April, July, and October.

How many Series F Preferred Shares does TEN Ltd have outstanding?

TEN Ltd has 6,747,147 Series F Preferred Shares outstanding.