TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares
08 August 2019 - 11:32PM
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 May 28,
2019 through August 27, 2019.
The dividend on the Series D and E Preferred
Shares will be paid on August 28, 2019 to all holders of record of
Series D and E Preferred Shares as of August 23, 2019.
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 17th dividend on the Series D and the
10th 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 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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