TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares
May 05 2020 - 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
$0.546875 per share for its Series D Cumulative Perpetual Preferred
Shares (the “Series D Preferred Shares”; NYSE; TNPPRD) and the
regular quarterly cash dividend of $0.578125 per share for its
Series E Cumulative Perpetual Preferred Shares (the “Series E
Preferred Shares”; NYSE; TNPPRE).
The dividend on the Series D and Series E is for
the period from the most recent dividend payment date on February
28, 2020 through May 27, 2020.
The dividend on the Series D and E Preferred
Shares will be paid on May 28, 2020 to all holders of record of
Series D and E Preferred Shares as of May 22, 2020. Dividends
on the Series D and E Preferred Shares are payable quarterly in
arrears on the 28th day (unless the 28th falls on a weekend or
public holiday, in which case the payment date is moved to the next
business day) of February, May, August and November of each year,
when, as and if declared by TEN’s board of directors. This is
the 20th dividend on the Series D and the 13th dividend on the
Series E since their commencement of trading on the New York Stock
Exchange.
TEN has 3,424,803 Series D and 4,600,000 Series
E Preferred Shares outstanding as of the date of this press
release.
ABOUT TSAKOS ENERGY
NAVIGATIONTEN, founded in 1993 and celebrating this year
27 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 69 double-hull
vessels, including two suezmax tankers and one LNG carrier under
construction, constituting a mix of crude tankers, product tankers
and LNG carriers, totalling 7.6 million dwt. Of the proforma fleet
today, 48 vessels trade in crude, 15 in products, three are shuttle
tankers and three are LNG carriers.
ABOUT FORWARD-LOOKING
STATEMENTSExcept 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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