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$80 Million of Additional Minimum Secured Revenues
Athens, Greece - January 3, 2023
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 approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the "Series F Preferred Shares"; NYSE: TNPPRF).
The dividend on the Series F Preferred Shares is for the period from the most recent dividend payment date on October 30, 2022 through January 29, 2023.
The dividend on the Series F Preferred Shares will be paid on January 30, 2023 to all holders of record of Series F Preferred Shares as of January 25, 2023. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN's board of directors.
This is the 18th dividend on the Series F since their commencement of trading on the New York Stock Exchange.
TEN has 6,747,147 Series F Preferred Shares outstanding as of the date of this press release.
About Tsakos Energy Navigation
TEN, founded in 1993 and celebrating this year 30 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 73 double-hull vessels including four dual-fuel LNG powered aframax vessels and two option one shuttle tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.5 million dwt.
Tsakos Energy Navigation press release
