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

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TEN (TNP) declares a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. The dividend will be paid on April 30, 2024, to holders of record as of April 25, 2024. This marks the 23rd dividend on the Series F since their commencement of trading on the NYSE.

ATHENS, Greece, April 08, 2024 (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 January 30, 2024 through April 29, 2024.

The dividend on the Series F Preferred Shares will be paid on April 30, 2024 to all holders of record of Series F Preferred Shares as of April 25, 2024. 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 23^rd 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 is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 double-hull vessels, including four 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 9.1 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
President & 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 dividend amount was declared by TEN for its Series F Preferred Shares?

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

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

The dividend on the Series F Preferred Shares will be paid on April 30, 2024.

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

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

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

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.

What is the ticker symbol for TEN 's Series F Cumulative Redeemable Perpetual Preferred Shares?

The ticker symbol for TEN 's Series F Cumulative Redeemable Perpetual Preferred Shares is TNPPRF.