Athens, Greece — November 6, 2018
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 August 28, 2018 through November 27, 2018. The dividend on the Series D and E Preferred Shares will be paid on November 28, 2018 to all holders of record of Series D and E Preferred Shares as of November 23, 2018.
Dividends on the Series D and E Preferred Shares are payable quarterly in arrears on the 28 th 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 14th dividend on the Series D and the seventh 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 Navigation
TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN’s pro-forma fleet, including one Aframax tanker under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.
Tsakos Energy Navigation press release