TEN Ltd. Declares Dividend on its Series B, Series C and Series F Cumulative Redeemable Perpetual Preferred Shares
April 08 2019 - 8:00AM
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 January 30, 2019 through April 29, 2019.
The dividend on the Series B Preferred Shares
will be paid on April 30, 2019 to all holders of record of Series B
Preferred Shares as of April 29, 2019. The dividend on the Series C
and F Preferred Shares will be paid on April 30, 2019 to all
holders of record of Series C and F Preferred Shares as of April
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 24th dividend on the Series B, the
22nd dividend on the Series C and the third 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
26 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 68 double-hull
vessels, including two aframax and two suezmax tankers under
construction, constituting a mix of crude tankers, product tankers
and LNG carriers, totaling 7.5 million dwt. Of the proforma fleet
today, 48 vessels trade in crude, 15 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 BornozisMarkella Kara +212 661
7566ten@capitallink.com
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