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

Rhea-AI Summary

On October 8, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend covers the period from July 30, 2021, to October 29, 2021, and will be paid on November 1, 2021, to shareholders on record as of October 27, 2021. This marks the 13th dividend declared since the Series F began trading on the NYSE, with 6,612,528 shares outstanding.

Positive

• Quarterly dividend of $0.59375 per share supports shareholder income.
• 13th consecutive dividend enhances confidence in the company's financial stability.

Negative

• None.

ATHENS, Greece, Oct. 08, 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 approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE: TNPPRF).

Each dividend of the Series F Preferred Shares is for the period from the most recent dividend payment date on July 30, 2021 through October 29, 2021.

The dividend on the Series F Preferred Shares will be paid on November 1, 2021 to all holders of record of Series F Preferred Shares as of October 27, 2021. 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 13^th dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,612,528 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 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, totaling 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 declared by TEN for TNP stock?

TEN 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 of TNP?

The dividend will be paid on November 1, 2021, to holders of record as of October 27, 2021.

How often does TEN pay dividends on TNP stock?

TEN pays dividends quarterly on the 30th day of January, April, July, and October.

How many Series F Preferred Shares are outstanding for TNP?

As of the press release date, TEN has 6,612,528 Series F Preferred Shares outstanding.