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

Rhea-AI Summary

On July 7, 2022, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of $0.59375 per share for its Series F Preferred Shares. This dividend covers the period from April 30, 2022, to July 29, 2022, with a payment date set for August 1, 2022, to shareholders on record as of July 27, 2022. This marks the 16th dividend since the Series F began trading. TEN has 6,747,147 Series F Preferred Shares outstanding and has maintained a diversified fleet with 70 vessels, including LNG-powered tankers.

Positive

• Quarterly dividend of $0.59375 per share enhances shareholder income.
• 16th dividend indicates consistent cash flow and company confidence.

Negative

• None.

ATHENS, Greece, July 07, 2022 (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 April 30, 2022 through July 29, 2022.

The dividend on the Series F Preferred Shares will be paid on August 1, 2022 to all holders of record of Series F Preferred Shares as of July 27, 2022. 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 16^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 29 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 70 double-hull vessels including four dual-fuel LNG powered aframax vessels under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 7.9 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. (TNP) announced on July 7, 2022?

The dividend amount is $0.59375 per share for the Series F Preferred Shares.

When will the dividend for TEN Ltd. (TNP) be paid?

The dividend will be paid on August 1, 2022.

What is the record date for the dividend payment of TEN Ltd. (TNP)?

The record date is July 27, 2022.

How often does TEN Ltd. (TNP) pay dividends on its Series F Preferred Shares?

TEN Ltd. pays dividends quarterly.

How many Series F Preferred Shares are outstanding for TEN Ltd. (TNP)?

There are 6,747,147 Series F Preferred Shares outstanding.