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

Rhea-AI Summary

On April 6, 2022, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend is for the period from January 30, 2022, to April 29, 2022, and will be paid on May 2, 2022, to those on record as of April 27, 2022. This marks the 15th dividend since the shares began trading on the NYSE. TEN has 6,747,147 Series F Preferred Shares outstanding, highlighting its commitment to shareholders.

Positive

• Quarterly cash dividend of $0.59375 demonstrates company commitment to returning value to shareholders.
• This marks the 15th dividend payment since trading commenced, indicating a consistent distribution policy.

Negative

• None.

ATHENS, Greece, April 06, 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 January 30, 2022 through April 29, 2022.

The dividend on the Series F Preferred Shares will be paid on May 2, 2022 to all holders of record of Series F Preferred Shares as of April 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 15^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, 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 totalling 8.0 million dwt. Its newbuiliding program includes one suezmax DP2 shuttle tanker and four dual-fuel LNG powered aframax vessels.

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. Series F Preferred Shares?

The dividend amount is approximately $0.59375 per share.

When will the dividend for TEN Ltd. be paid?

The dividend will be paid on May 2, 2022.

What is the record date for the upcoming dividend payment?

The record date for the upcoming dividend payment is April 27, 2022.

How frequently does TEN Ltd. pay dividends on its Series F Preferred Shares?

Dividends are payable quarterly on January 30, April 30, July 30, and October 30.

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

As of the press release, there are 6,747,147 Series F Preferred Shares outstanding.