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

Rhea-AI Summary

TEN Ltd. (NYSE: TNP) has announced 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, 2021, to January 29, 2022, and will be paid on January 31, 2022, to shareholders on record as of January 26, 2022. This marks the 14th dividend since the commencement of trading of the Series F shares. Currently, there are 6,747,147 Series F Preferred Shares outstanding.

Positive

• Regular quarterly dividend payment of $0.59375 enhances shareholder income.
• 14th dividend since trading began indicates a consistent dividend policy.

Negative

• None.

ATHENS, Greece, Jan. 11, 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).

Each dividend of the Series F Preferred Shares is for the period from the most recent dividend payment date on October 30, 2021 through January 29, 2022.

The dividend on the Series F Preferred Shares will be paid on January 31, 2022 to all holders of record of Series F Preferred Shares as of January 26, 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 14^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 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, totalling 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 for TNP's Series F Preferred Shares?

The dividend amount is approximately $0.59375 per share.

When is the dividend for TNP's Series F Preferred Shares paid?

The dividend will be paid on January 31, 2022.

What is the record date for TNP's Series F Preferred Shares dividend?

The record date is January 26, 2022.

How many Series F Preferred Shares does TNP have outstanding?

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

How often does TNP pay dividends on Series F Preferred Shares?

Dividends are payable quarterly in January, April, July, and October.