Welcome to our dedicated page for Tsakos Energy news (Ticker: TEN), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy stock.
News about Tsakos Energy Navigation Ltd. (TEN) focuses on its activities as a diversified crude, product and LNG tanker operator listed on the New York Stock Exchange. Company press releases and related coverage highlight developments in its energy transportation business, including fleet expansion, chartering activity and financial performance.
Readers of the TEN (TEN) news page can review announcements on quarterly and nine-month results, where the company reports voyage revenues, operating income, net income, fleet utilization and contracted revenue. These releases often include commentary from management on tanker market conditions and the composition of TEN’s charter portfolio across time charters, profit-sharing arrangements, spot voyages, pool participation and other contracts.
News items also cover TEN’s fleet development, such as deliveries of new DP2 shuttle tankers, scrubber-fitted suezmax tankers, MR product tankers, LR1 tankers and VLCCs, as well as orders placed with shipyards in South Korea. The company reports long-term employment for many of these vessels with oil majors and other large counterparties, and highlights its expansion in the shuttle tanker segment, including recognition at the Lloyd’s List Greek Shipping Awards.
Investors following TEN’s news will also find updates on common and preferred share dividends, including regular quarterly dividends on Series E and Series F preferred shares and semi-annual dividends on common stock. Additional news includes features on TEN in external publications, references to its focus on operational discipline and modernization, and information on corporate governance developments such as board appointments. This page brings together these company communications so that readers can monitor TEN’s disclosures on its operations, fleet and capital structure.
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.
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.
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