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MarketScreener Homepage  >  Equities  >  Nyse  >  Tsakos Energy Navigation Limited    TNP   BMG9108L1081

TSAKOS ENERGY NAVIGATION LIMITED

(TNP)
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Tsakos Energy Navigation : TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares

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05/05/2020 | 04:19pm EDT

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

Press Release

May 5, 2020

____________

TEN Ltd. Declares Dividend on its

Series D and Series E Cumulative Perpetual Preferred Shares

ATHENS, GREECE, May 5, 2020 - 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 February 28, 2020 through May 27, 2020.

The dividend on the Series D and E Preferred Shares will be paid on May 28, 2020 to all holders of record of Series D and E Preferred Shares as of May 22, 2020. 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 20th dividend on the Series D and the 13th 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 and celebrating this year 27 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 69 double-hull vessels, including two suezmax tankers and one LNG carrier under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.6 million dwt. Of the proforma fleet today, 48 vessels trade in crude, 15 in products, three are shuttle tankers and three are LNG carriers.

Visit our company website at: http://www.tenn.gr

1

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:

Company

Tsakos Energy Navigation Ltd.

George Saroglou

COO

+30210 94 07 710 gsaroglou@tenn.gr

Investor Relations / Media

Capital Link, Inc.

Nicolas Bornozis

Markella Kara

+212 661 7566 ten@capitallink.com

Visit our company website at: http://www.tenn.gr

2

Disclaimer

TEN - Tsakos Energy Navigation Limited published this content on 05 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2020 20:18:02 UTC

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Financials (USD)
Sales 2020 682 M - -
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 193 M 193 M -
EV / Sales 2019
Capi. / Sales 2020 0,28x
Nbr of Employees -
Free-Float 68,9%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 17,50 $
Last Close Price 10,10 $
Spread / Highest target 123%
Spread / Average Target 73,3%
Spread / Lowest Target 23,8%
Managers
NameTitle
Nikolas P. Tsakos President, CEO & Executive Director
Efstratios-Georgios Arapoglou Chairman
George V. Saroglou Chief Operating Officer, Director & Vice President
Paul Durham Chief Financial & Accounting Officer
Michael Gordon Jolliffe Vice Chairman & Joint Managing Director
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