Tsakos Energy Stock Price, News & Analysis

TEN Ltd. (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has declared its regular quarterly cash dividend for Series E Cumulative Perpetual Preferred Shares (NYSE: TENPRE). The company will distribute a dividend of $0.578125 per share for the period from May 28, 2025, through August 27, 2025.

The dividend payment is scheduled for August 28, 2025, with a record date of August 25, 2025. This marks the 34th dividend payment since the Series E Preferred Shares began trading on the NYSE. Currently, TEN has 4,745,947 Series E Preferred Shares outstanding.

TEN Ltd. (NYSE:TEN), a leading tanker operator, has announced significant fleet modernization initiatives. The company has ordered two eco VLCCs from Hanwha Ocean in South Korea, with deliveries scheduled for 2027 and 2028, and holds an option for an additional unit.

Simultaneously, TEN has sold three 2007-built vessels, including two handysize product tankers and one aframax crude carrier, generating $60 million in free cash and $9 million in capital gains. The company's strategic moves align with its commitment to eco-friendly vessels and portfolio optimization, with its proforma fleet approaching 11 million dwt capacity and securing $3.7 billion in minimum contracted revenues.

TEN Ltd. (NYSE:TEN), a leading diversified crude, product and LNG tanker operator, has declared its regular quarterly cash dividend for Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). The company will distribute a dividend of $0.59375 per share for the period from April 30, 2025, through July 29, 2025.

The dividend will be paid on July 30, 2025, to shareholders of record as of July 25, 2025. This marks the 28th dividend payment for the Series F Preferred Shares since their NYSE listing. Currently, TEN has 6,747,147 Series F Preferred Shares outstanding.

TEN Ltd., a leading diversified crude, product and LNG tanker operator, successfully held its 32nd Annual General Meeting in Athens on June 12, 2025. All proposed resolutions were approved with at least 94.6% of votes cast. The company, founded in 1993 and public for 32 years, operates a diverse energy fleet of 82 vessels, including twelve DP2 shuttle tankers and multiple vessels under construction. The total fleet capacity is 10.1 million dwt, comprising crude tankers, product tankers, and LNG carriers. The company currently has several vessels under construction, including two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers, and five scrubber-fitted LR1 tankers.

TEN Ltd reported strong Q1 2025 financial results with EBITDA of $103 million and net income of $37.7 million ($1.04 EPS). The company achieved revenues of $197.1 million with 97.2% fleet utilization. TEN declared a semi-annual dividend of $0.60 per share, bringing total dividend distributions to over $900 million since its 2002 NYSE listing. The company secured a major contract from Brazil's Transpetro/Petrobras to build nine DP2 Shuttle Tankers, with minimum revenues of $2 billion. Total fleet contracted revenue backlog reached $3.7 billion. TEN is executing a significant 21-vessel eco growth program, with recent deliveries including Dr Irene Tsakos and Athens 04. The company maintains a strong financial position with $350 million in cash reserves and slightly reduced bank debt of $1.7 billion.

TEN Ltd announced the delivery of eco-friendly scrubber-fitted suezmax tanker 'Dr Irene Tsakos' and the naming of sister vessel 'Silia T' from Hyundai Heavy Industries. Both vessels secured long-term charters with European and US energy majors, with Dr Irene Tsakos chartered for 5 years and Silia T for 3 years with extension options up to 9 years. These contracts boost TEN's revenue backlog to $3.7 billion. The company's fleet renewal program, initiated in January 2023, has replaced 14 older vessels with 30 eco-friendly newbuildings and acquisitions, increasing total carrying capacity from 1.2 million dwt to 3.7 million dwt. TEN's proforma fleet now consists of 82 vessels, with 19 under construction scheduled for delivery between Q3 2025 and Q4 2028.

TEN Ltd. (NYSE:TEN), a leading diversified crude, product and LNG tanker operator, has scheduled its first quarter 2025 earnings release for Tuesday, June 17, 2025, before the New York market opens. The company will host a conference call at 10:00 a.m. Eastern Time on the same day, featuring senior management discussing results and business outlook. Participants can join via US Toll-Free (877-405-1226) or International (201-689-7823) numbers, using conference ID 13753901. The call will include a live webcast with slides accessible through the company's website at www.tenn.gr, with registration required 10 minutes before start time.

TEN Ltd (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has announced a quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (NYSE: TENPRE). The dividend covers the period from February 28, 2025, through May 27, 2025, and will be paid on May 28, 2025, to shareholders of record as of May 22, 2025.

This marks the 33rd dividend payment on the Series E Preferred Shares since their NYSE listing. TEN currently has 4,745,947 Series E Preferred Shares outstanding. The dividends are paid quarterly in February, May, August, and November, subject to board approval.

TEN Ltd. has announced the delivery of "Athens 04" and naming of "Paris 24" DP2 shuttle tankers from Samsung Heavy Industries, marking a significant expansion in their Brazilian offshore operations. These vessels secured seven-year contracts with a European oil major, with extension options up to 15 years, expected to generate $300 million in gross revenues. The deliveries represent the start of TEN's second phase expansion in Brazil's offshore market, where they've operated since 2013. With a pro-forma fleet of 82 vessels, including 16 shuttle tankers, TEN's minimum contracted revenues now reach $3.7 billion. The company's extensive newbuilding program includes 12 DP2 shuttle tankers and 9 conventional tankers under construction, positioning TEN as one of the largest shuttle tanker owners globally.