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

Rhea-AI Summary

On July 8, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of approximately $0.59375 per share on its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend covers the period from April 30, 2021, to July 29, 2021, and will be paid on July 30, 2021. Shareholders of record as of July 27, 2021 will receive this payment. TEN has 6,291,199 Series F Preferred Shares outstanding and this represents the 12th dividend since trading commenced on the NYSE.

Positive

• Declared quarterly cash dividend of $0.59375 per share for Series F Preferred Shares.
• Demonstrated consistent dividend payments with this being the 12th dividend issued.

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• None.

ATHENS, Greece, July 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 April 30, 2021 through July 29, 2021.

The dividend on the Series F Preferred Shares will be paid on July 30, 2021 to all holders of record of Series F Preferred Shares as of July 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 12^th dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,291,199 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 67 double-hull vessels, including one LNG carrier and one suezmax DP2 shuttle tanker under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.4 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 Ltd. in July 2021?

TEN Ltd. declared a quarterly cash dividend of approximately $0.59375 per share on its Series F Cumulative Redeemable Perpetual Preferred Shares.

When will the dividend be paid to shareholders?

The dividend will be paid on July 30, 2021, to shareholders of record as of July 27, 2021.

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

As of the date of the press release, TEN Ltd. has 6,291,199 Series F Preferred Shares outstanding.

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

TEN Ltd. pays dividends on its Series F Preferred Shares quarterly, in January, April, July, and October.

Is the dividend declared by TEN Ltd. sustainable?

The sustainability of the dividend can depend on the company's future financial performance, which is not detailed in the press release.