Tsakos Energy Stock Price, News & Analysis

TEN (NYSE: TEN) has declared its regular quarterly cash dividend of $0.59375 per share for Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). The dividend covers the period from October 30, 2024, through January 29, 2025, and will be paid on January 30, 2025, to shareholders of record as of January 27, 2025.

This marks the 26th dividend payment since the Series F shares began trading on the NYSE. The company currently has 6,747,147 Series F Preferred Shares outstanding. Dividends are typically paid quarterly on the 30th of January, April, July, and October, subject to board approval and business day adjustments.

TEN (NYSE: TEN) has released its third annual ESG Report for 2023, highlighting its sustainability initiatives and achievements. The report features the company's first application of double materiality methodology and integration with S&P Global Corporate Sustainability Assessment framework. Key achievements include a 19.60% reduction in fleet carbon intensity compared to 2008 through fleet optimization and deployment of dual fuel LNG vessels.

The report received independent assurance from CSE North America and follows GRI, SASB, and UN Sustainable Development Goals frameworks. TEN has adopted a net zero GHG emissions target by 2050 and joined the Maritime Anti-Corruption Network. The company has also enhanced its decarbonization strategy considering EU ETS regulation compliance.

TEN reported strong financial results for the nine months ended September 30, 2024, with net income of $157 million ($4.62 per share) and gross revenues of $615.8 million. The company announced a dividend increase of 50% compared to 2023, with $0.90 per share to be paid in December 2024. The fleet secured $1.8 billion in forward contracted revenue with 30 vessels under new and extended charters. Operating efficiency improved with a 10% decrease in vessel operating expenses. The company maintains a strong fleet of 74 vessels with 12 new vessels under construction, including specialized shuttle tankers and eco-friendly vessels.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has scheduled its third quarter 2024 earnings release for Tuesday, November 26, 2024, before the New York market opens. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss the results and management's business outlook. The call will feature TEN's senior management and may include information beyond the earnings press release. Participants can join via phone or webcast, with accompanying slides available through the company's website.

TEN has announced a quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares. The dividend covers the period from August 28, 2024, through November 27, 2024, and will be paid on November 29, 2024, to shareholders of record as of November 25, 2024. This marks the 31st dividend payment since the Series E Preferred Shares began trading on the NYSE. The company currently has 4,745,947 Series E Preferred Shares outstanding.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has been awarded Tanker of the Year at the 2024 Tanker Shipping & Trade Awards in London. The recognition highlights TEN's excellence in safety, operations, and innovation in making tanker trades one of the safest and most environmentally friendly transportation methods. The award was accepted by Harrys Kosmatos, TEN's co-CFO, on behalf of the company's onshore and at-sea personnel.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has announced a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). The dividend covers the period from July 30, 2024, through October 29, 2024, and will be paid on October 30, 2024 to all holders of record as of October 25, 2024.

This marks the 25th dividend on the Series F Preferred Shares since their listing on the New York Stock Exchange. TEN currently has 6,747,147 Series F Preferred Shares outstanding. Dividends on these shares are payable quarterly in arrears on the 30th day of January, April, July, and October each year, subject to declaration by TEN's board of directors.

TEN, reported strong financial results for Q2 and H1 2024, declaring a second semi-annual dividend of $0.90 per common share. This brings total distributions for 2024 operations to $1.50 per share, a 50% increase from 2023. Key highlights include:

- H1 2024: $416 million in gross revenues, $179 million in operating profits, and $130.4 million in net income
- Q2 2024: $214 million in gross revenues and $76.4 million in net income
- Fleet expansion: 21 vessels contracted/acquired in 2024
- $2.0 billion in minimum contracted revenues
- Cash position of $476 million as of June 2024

TEN's growth strategy and solid market fundamentals position the company for continued success in the tanker market.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has announced it will report earnings for the second quarter and six months ended June 30, 2024 before the market opens in New York on Wednesday, September 11, 2024. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to review the results and management's business outlook.

Participants can join the call by dialing 877-405-1226 (US Toll-Free) or +1 201-689-7823 (US and International) and quoting "Tsakos" or conference ID 13748715. A live webcast and accompanying slides will be available through the company's website. To access the archived audio file, visit www.tenn.gr and click on Webcasts & Presentations under the Investor Relations page.