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Athens, Greece - April 16, 2015
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 $0.5547 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, 2015 through April 29, 2015. The dividend on the Series B Preferred Shares will be paid on April 30, 2015 to all holders of record of Series B Preferred Shares as of April 29, 2015. The dividend on the Series C Preferred Shares will be paid on April 30, 2015 to all holders of record of Series C Preferred Shares as of April 27, 2015.
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 eighth dividend on the Series B and the sixth 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, nine Aframax crude oil tankers and two LR1 tankers all under construction, consists of 64 double-hull vessels (including Suezmax DP2 option), a mix of crude tankers, product tankers and LNG carriers, totaling 6.72 million dwt. Of these 44 vessels trade in crude, 14 in products, four are shuttle tankers (including Suezmax DP2 option) and two LNG carriers. The average age of the operat ional fleet is 7.7 years.
All TEN’s tanker newbuildings are fixed on accretive long term project business.
Tsakos Energy Navigation press release
MV Selini
