Tsakos Energy Stock Price, News & Analysis

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.

TEN (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 May 28, 2024, to August 27, 2024, and will be paid on August 28, 2024, to shareholders of record as of August 23, 2024. This marks the 30th dividend on the Series E Preferred Shares since their listing on the NYSE. TEN currently has 4,745,947 Series E Preferred Shares outstanding. Dividends are typically paid quarterly on February 28, May 28, August 28, and November 28, subject to board approval and business day adjustments.

TEN (NYSE: TEN), a major crude, product, and LNG tanker operator, announced a quarterly cash dividend of $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (NYSE: TENPRF). This dividend covers the period from April 30, 2024, to July 29, 2024, and will be paid on July 30, 2024, to shareholders on record as of July 25, 2024. Dividends on these shares are distributed quarterly at the end of January, April, July, and October, as declared by the board. This marks the 24th dividend since the Series F shares began trading on the NYSE. Currently, there are 6,747,147 Series F Preferred Shares outstanding.

TEN , a diversified tanker operator, has announced a change in its NYSE ticker symbol, effective today. The company’s common shares will transition from 'TNP' to 'TEN', while the Series E Preferred Shares will change from 'TNP-PRE' to 'TEN-PRE' and the Series F Preferred Shares from 'TNP-PRF' to 'TEN-PRF'. No action is required from existing shareholders regarding this change. The shares will continue to be listed under 'Tsakos Energy Navigation ' with unchanged CUSIP numbers.

TEN, a leader in the tanker industry, successfully held its 31st Annual General Meeting on June 14, 2024, in Athens. During the meeting, all proposed resolutions were approved with at least 89.27% of votes cast in favor, demonstrating strong shareholder support. The meeting was well-attended, fulfilling the quorum requirement.

TEN reported strong results for Q1 2024, with voyage revenues of $201.6 million and net income of $54 million, translating to $1.60 per share. The company's fleet renewal and growth initiatives are on track, with the delivery of three dual-fuel LNG vessels, and the sale and purchase of multiple ships. Cash reserves stood at $344 million, and bank debt reached $1.66 billion. Operating income was $76.2 million, including $16.2 million from vessel sales. Despite reduced fleet utilization and higher drydocking days, TEN maintained healthy TCE earnings of $33,403 per ship per day. The company announced a semi-annual dividend of $0.60 per share, double that of the previous year, to be distributed on July 18, 2024. The NYSE ticker symbol will change to 'TEN' effective July 1, 2024. The tanker market fundamentals remain solid, and TEN's fleet modernization efforts are contributing to its sustainable growth.

TEN , a leading operator in the crude, product, and LNG tanker market, announced a ticker symbol change for its NYSE-listed shares. Effective July 1, 2024, the common shares will change from 'TNP' to 'TEN.' The Series E and Series F Preferred Shares will also change to 'TEN-PRE' and 'TEN-PRF,' respectively. The new ticker symbol aims to align with the company's brand and growth in the maritime industry. No actions are required from existing shareholders, and the CUSIPs will remain the same.

Tenneco Inc. has announced an extension of the redemption date for its 5⅜% Senior Notes due 2024 and 5.0% Senior Notes due 2026 from November 7, 2022, to November 14, 2022. The redemption price for the 2024 Notes is set at 100.896% of the principal, plus accrued interest, with an outstanding amount of $225 million. For the 2026 Notes, valued at $500 million, the redemption price is 101.667% of the principal, plus accrued interest. All other terms remain unchanged as specified in the Notice of Redemption dated October 6, 2022.