TEN Ltd. Declares Dividend on its Series F Cumulative Redeemable Perpetual Preferred Shares

Rhea-AI Summary

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.

Positive

• Consistent quarterly dividend payment maintained at $0.59375 per share
• 26 consecutive dividend payments demonstrate stable dividend history
• Large preferred share base with 6,747,147 shares outstanding

Negative

• None.

ATHENS, Greece, Jan. 10, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (“TEN”) (NYSE: TEN) (the “Company”), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE: TENPRF).

The dividend on the Series F Preferred Shares is for the period from the most recent dividend payment date on October 30, 2024, through January 29, 2025.

The dividend on the Series F Preferred Shares will be paid on January 30, 2025 to all holders of record of Series F Preferred Shares as of January 27, 2025. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30^th day (unless the 30^th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN’s board of directors. This is the 26^th dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,747,147 Series F Preferred Shares outstanding as of the date of this press release.

ABOUT TEN Ltd.
TEN, founded in 1993 and celebrating this year 31-years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 8.9 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Company
Tsakos Energy Navigation Ltd.
George Saroglou
President &COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
ten@capitallink.com

FAQ

What is the dividend amount for TEN's Series F Preferred Shares in January 2025?

TEN's Series F Preferred Shares will receive a quarterly dividend of $0.59375 per share, payable on January 30, 2025.

When is the record date for TEN's January 2025 preferred dividend?

The record date for TEN's Series F Preferred dividend is January 27, 2025.

How many Series F Preferred Shares does TEN have outstanding?

TEN has 6,747,147 Series F Preferred Shares outstanding as of the announcement date.

How often does TEN pay dividends on its Series F Preferred Shares?

TEN pays dividends on its Series F Preferred Shares quarterly, typically on the 30th of January, April, July, and October.

How many consecutive dividends has TEN paid on its Series F Preferred Shares?

This is the 26th dividend payment since the Series F Preferred Shares began trading on the NYSE.