Tsakos Energy Stock Price, News & Analysis

TEN (NYSE: TEN) has announced the filing of its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2024. The report is now accessible through TEN's Investor Relations website under the SEC Filings section. Shareholders can also request a complimentary hard copy of the annual report by contacting Capital Link.

TEN (NYSE: TEN) has announced its Board of Directors' declaration of a 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 January 30, 2025, through April 29, 2025, and will be paid on April 30, 2025, to shareholders of record as of April 25, 2025.

This marks the 27th dividend payment for the Series F Preferred Shares since their NYSE listing. The company currently has 6,747,147 Series F Preferred Shares outstanding. Dividends are paid quarterly in arrears on the 30th of January, April, July, and October, subject to business day adjustments and board declaration.

TEN reported strong financial results for 2024, with net income of $176.2 million ($5.03 per share) and gross revenues of $804.1 million. The company achieved an Adjusted EBITDA of $400 million and maintained a healthy fleet utilization of 92.5%. Operating income reached $278.6 million, including $48.7 million in capital gains from vessel sales.

The company announced a significant expansion with 21 new vessels, representing 36% dwt growth, bringing their proforma fleet to 82 vessels. A major development includes securing contracts for nine DP2 shuttle tankers with Brazil's Transpetro, valued at $2.0 billion in expected revenues. The Board authorized a common stock dividend of $0.60 per share, payable in July 2025.

TEN's financial position remains solid with $348.3 million in cash reserves as of December 31, 2024. The company recently sold a 2009-built suezmax tanker, generating $30.0 million in free cash and $2.5 million in capital gains.

TEN (NYSE: TEN) has announced the construction of nine DP2 Suezmax Shuttle Tankers with 15-year employment contracts for Transpetro, Brazil's largest oil and gas transportation company. The vessels will be built at Samsung Heavy Industries in South Korea, with deliveries scheduled for 2027 and 2028.

The contract, structured as a bareboat charter where Transpetro assumes all operating and technical costs, is expected to generate gross revenues of approximately $2.0 billion. This expansion will make TEN one of the world's largest Shuttle tanker owners with a proforma fleet of 16 DP2 Suezmax Shuttle tankers.

This announcement follows TEN's recent fleet expansion initiatives, including three DP2 Shuttle Tankers currently under construction with deliveries in 2025-2026, and the acquisition of five modern Dual-Fuel LNG vessels from Viken Crude in early 2024.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, has scheduled its Fourth Quarter and Year End 2024 earnings report release for Thursday, March 27, 2025, before the New York market opens.

The company will host a conference call at 11:00 a.m. Eastern Time on the same day, featuring senior management's review of results and business outlook. The call will be accessible via:

• US Toll-Free: 877-405-1226
• International: +1 201-689-7823
• Conference ID: 13752384

Participants can also utilize the 'call me' option for faster connection. A live webcast with accompanying slides will be available through the company's website at www.tenn.gr under the Investor Relations section's Webcasts & Presentations area.

TEN (NYSE: TEN) announced the passing of former Chairman Mr. D. John Stavropoulos at age 92 in Athens. Stavropoulos served as TEN's Chairman from 1994 to 2014 and had a distinguished 33-year career at The First National Bank of Chicago, where he held the position of Executive Vice President and Chief Credit Officer.

Stavropoulos was among the first in the U.S. to receive the Certified Financial Analyst designation and was appointed by President George H.W. Bush to serve for life on the Presidential Credit Standards Advisory Committee. He also taught economics and finance at Northwestern University from 1962 to 1968 and served on the EMEA Alumni Advisory Board of the Kellogg School of Management.

TEN (NYSE: TEN), a leading diversified crude, product and LNG tanker operator, announced its Board of Directors has declared a regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (NYSE: TENPRE). The dividend covers the period from November 28, 2024, through February 27, 2025, and will be paid on February 28, 2025, to shareholders of record as of February 25, 2025.

This marks the 32nd dividend payment on the Series E Preferred Shares since their NYSE listing. The company currently has 4,745,947 Series E Preferred Shares outstanding. Dividends are paid quarterly in arrears on February 28, May 28, August 28, and November 28, subject to business day adjustments.

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.