TEN Ltd. Declares Dividend on its Series B, Series C and Series F Cumulative Redeemable Perpetual Preferred Shares
January 07 2019 - 4:05PM
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
$0.50 per share for its Series B Cumulative Redeemable Perpetual
Preferred Shares (the “Series B Preferred Shares”; NYSE; TNPPRB),
approximately $0.5547 per share for its Series C Cumulative
Redeemable Perpetual Preferred Shares (the “Series C Preferred
Shares”; NYSE; TNPPRC) and $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 B, C and F Preferred
Shares is for the period from the most recent dividend payment date
on October 30, 2018 through January 29, 2019.
The dividend on the Series B Preferred Shares
will be paid on January 30, 2019 to all holders of record of Series
B Preferred Shares as of January 29, 2019. The dividend on the
Series C and F Preferred Shares will be paid on January 30, 2019 to
all holders of record of Series C and F Preferred Shares as of
January 25, 2019. Dividends on the Series B, C and F
Preferred Shares are payable quarterly in arrears on the 30th day
(unless the 30th 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 23rd
dividend on the Series B, the 21st dividend on the Series C and the
second dividend on the Series F since their commencement of trading
on the New York Stock Exchange.
TEN has 2,000,000 Series B Preferred Shares,
2,000,000 Series C Preferred Shares and 6,000,000 Series F
Preferred Shares outstanding as of the date of this press
release.
ABOUT TSAKOS ENERGY
NAVIGATIONTEN, founded in 1993 and celebrating this year
25 years as a public company, is one of the first and most
established public shipping companies in the world today. TEN’s
fleet currently consists of 66 double-hull vessels, including two
aframax tankers under construction, constituting a mix of crude
tankers, product tankers and LNG carriers, totalling 7.2 million
dwt. Of the fleet in the water, 46 vessels trade in crude, 13 in
products, three are shuttle tankers and two are LNG carriers.
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:
CompanyTsakos Energy Navigation
Ltd.George Saroglou COO+30210 94 07 710gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc. Nicolas BornozisPaul Lampoutis +212 661
7566ten@capitallink.com
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