Tsakos Energy Navigation Limited Declares Dividend on Its 8.00% Series B & 8.875% Series C Cumulative Redeemable Perpetual Pr...
April 15 2014 - 4:05PM
Marketwired
Tsakos Energy Navigation Limited Declares Dividend on Its 8.00%
Series B and 8.875% Series C Cumulative Redeemable Perpetual
Preferred Shares
ATHENS, GREECE--(Marketwired - Apr 15, 2014) - Tsakos Energy
Navigation Limited ("TEN") (NYSE: TNP), a leading crude, product,
and LNG tanker operator, today announced that its Board of
Directors declared regular quarterly cash dividends of $0.50
per share for its 8.00% Series B Cumulative Redeemable Perpetual
Preferred Shares (the "Series B Preferred Shares") (NYSE: TNPPRB)
and $0.55469 per share for its 8.875% Series C Cumulative
Redeemable Perpetual Preferred Shares (the "Series C Preferred
Shares") (NYSE: TNPPRC).
Each dividend is for the period from the most recent dividend
payment date on January 30, 2013 through April 29, 2014.
The dividend on the Series B Preferred Shares will be paid on
April 30, 2014 to all holders of record of Series B Preferred
Shares as of April 29, 2014. The dividend on the Series C Preferred
Shares will be paid on April 30, 2014 to all holders of record of
Series C Preferred Shares as of April 25, 2014. Dividends on the
Series B and C Preferred Shares will be payable quarterly in
arrears on the 30th day of January, April, July and October of each
year, when, as and if declared by TEN's board of
directors. This is the fourth dividend on the Series B and the
second dividend on the Series C.
TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series
C Preferred Shares outstanding as of the date of this press
release.
ABOUT TSAKOS ENERGY NAVIGATION To date, TEN's fleet, including
the LNG carrier Maria Energy and nine Aframax crude oil
tankers under construction, consists of 58 double-hull vessels, a
mix of product tankers, crude tankers and LNG carriers, totaling
5.9 million dwt. Of these, 28 are product carriers ranging from DP2
shuttle suezmaxes to handysize, 28 are crude tankers ranging from
VLCCs to Aframaxes, and two are LNG carriers.
The Company's newbuilding program consists of:
Vessel |
|
Dwt |
|
Built |
LNG Maria Energy |
|
174,000 cbm |
|
1Q2016 |
Aframax H/N 5010 |
|
112,700 dwt |
|
2Q2016 |
Aframax H/N 5011 |
|
112,700 dwt |
|
2Q2016 |
Aframax H/N 5012 |
|
112,700 dwt |
|
3Q2016 |
Aframax H/N 5013 |
|
112,700 dwt |
|
4Q2016 |
Aframax H/N 5014 |
|
112,700 dwt |
|
1Q2017 |
Aframax H/N 5015 |
|
112,700 dwt |
|
1Q2017 |
Aframax H/N 5016 |
|
112,700 dwt |
|
2Q2017 |
Aframax H/N 5017 |
|
112,700 dwt |
|
2Q2017 |
Aframax H/N 5018 |
|
112,700 dwt |
|
3Q2017 |
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.
Contact: 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 Paul Lampoutis +212 661 7566 ten@capitallink.com
TSAKOS ENERGY NAVIGATION LIMITED (TEN) 367 Syngrou Avenue 175
64 P. Faliro, Hellas Tel: 30210 94 07 710-3,
Fax: 30210 94 07 716 e-mail: ten@tenn.gr
Website: http://www.tenn.gr
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