Welcome to our dedicated page for Tsakos Energy Navigation Ltd. news (Ticker: TNP), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy Navigation Ltd. stock.
Tsakos Energy Navigation Limited, historically trading on the New York Stock Exchange under the symbol TNP, is a crude, product, and LNG tanker operator active in deep sea freight transportation. Company press releases describe TEN as a diversified energy fleet owner and one of the first and most established public shipping companies in the world. The news flow around TNP and its successor ticker TEN focuses on operational performance, fleet developments, and corporate actions in the maritime energy transportation sector.
On this news page, readers can review company-issued announcements that have been referenced in regulatory and market communications. These include earnings updates, such as reports of quarterly results that detail voyage revenues, operating income, net income, and non-GAAP measures like adjusted EBITDA. TEN also issues news about its dividend decisions, including semi-annual common share dividends and cumulative preferred share distributions, as well as information on its long record of dividend payments since its NYSE listing.
Fleet activity is a recurring theme in TEN’s news. Press releases describe the delivery of dual-fuel LNG LR2 product tankers, the acquisition of modern Aframax and suezmax tankers, and the sale of older Aframax and LNG vessels. The company also reports on its green-growth initiative and green ship initiative, highlighting environmentally focused vessels, scrubber-fitted ships, and a multi-year newbuilding program that includes DP2 shuttle tankers, scrubber-fitted suezmax tankers, MR product tankers, and Panamax LR1 units under construction.
Corporate and capital markets updates also feature prominently. TEN has announced the filing of its Annual Report on Form 20-F, the scheduling of conference calls and webcasts to discuss results and outlook, and a change in its NYSE ticker symbol from TNP to TEN, along with corresponding changes for its preferred share symbols. Investors following TNP-related news can use this page as an archive of company communications that trace the evolution of Tsakos Energy Navigation Limited’s fleet, financial performance, and trading symbol over time.
On January 7, 2021, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend covers the period from October 30, 2020, to January 29, 2021, and will be paid on February 1, 2021 to shareholders of record as of January 27, 2021. This marks the 10th dividend since trading began. TEN has 6,000,000 Series F Preferred Shares outstanding, contributing to a diversified fleet of 68 vessels including tankers and an LNG carrier.
TEN, Ltd (NYSE: TNP) announced the extension of charters for two product tankers with profit sharing provisions, generating a minimum of $20 million in gross revenues over 24 months. If an additional 12-month option is exercised, total revenues could exceed $32 million. COO George Saroglou highlighted the importance of these contracts in ensuring earnings visibility and adapting to market cycles. TEN operates a diverse fleet of 68 vessels and remains optimistic about the economic recovery in 2021.
TEN, Ltd (TNP) reported a significant 130% increase in operating income year-over-year, with net income reaching $70.6 million for the nine months ended September 30, 2020. Gross revenues rose by 21.4% to $512.5 million, driven by strong fleet utilization at 95.2%. The company declared a total dividend of $0.50 per share for 2020, reflecting its commitment to shareholder returns. Additionally, TEN’s acquisitions are expected to generate $200 million in TCE revenues over five years, enhancing its financial outlook amidst the pandemic's challenges.
TEN, Ltd. (NYSE: TNP) has delivered the last vessel in a newbuilding program consisting of four ships, generating a minimum Time-Charter Equivalent (TCE) revenue of $200 million over five years. The vessels include two suezmaxes and two aframaxes, all contracted to an oil major. The company is also advancing its growth strategy with two additional vessels in the specialized sectors of DP2 shuttle tankers and LNG. TEN, established in 1993, operates a diverse fleet of 68 double-hull vessels.
ATHENS, Greece, Nov. 16, 2020 - TEN Ltd. (NYSE:TNP) will report its third quarter and nine months earnings on November 23, 2020, before the market opens. A conference call is scheduled for 10:00 a.m. Eastern Time the same day, where management will discuss results and provide an outlook. Participants can access the call using specified dial-in numbers. TEN operates a diversified energy fleet of 68 vessels, totaling 7.6 million dwt, and is celebrating 27 years as a public company.
Tsakos Energy Navigation's Board of Directors has declared a quarterly cash dividend of $0.546875 per share for its Series D Preferred Shares and $0.578125 per share for its Series E Preferred Shares. These dividends are for the period from August 28, 2020, to November 27, 2020, payable on November 30, 2020, to shareholders of record by November 24, 2020. This marks the 22nd dividend for Series D and the 15th for Series E since their trading began. A total of 3,424,803 Series D and 4,600,000 Series E shares are outstanding.
Tsakos Energy Navigation (TNP) announced a quarterly cash dividend of $0.5547 for its Series C Preferred Shares and $0.59375 for Series F Preferred Shares. The dividends cover the period from July 30, 2020, to October 29, 2020, and will be paid on October 30, 2020. Additionally, TNP is redeeming all 2,000,000 Series C Preferred Shares at a redemption price of $25.00 per share effective October 30, 2020, marking the final dividend payment for Series C. TNP currently has 6,000,000 Series F Preferred Shares outstanding.
TEN Ltd. (NYSE:TNP) announced it will report earnings for the second quarter and six months ending June 30, 2020, before the market opens on September 23, 2020. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss results and management's business outlook. TEN currently operates a fleet of 65 vessels and is constructing additional tankers, marking its 27th year as a public shipping company.
Tsakos Energy Navigation (TNP) announced a quarterly cash dividend of $0.546875 per share for its Series D Preferred Shares and $0.578125 for its Series E Preferred Shares. These dividends are for the period from May 28, 2020, to August 27, 2020, and will be paid on August 28, 2020, to holders of record as of August 25, 2020. TEN has a total of 3,424,803 Series D and 4,600,000 Series E shares outstanding, marking the 21st and 14th dividend payments, respectively. The company operates a diverse fleet, featuring 65 vessels exceeding 8.0 million dwt.
TEN, Ltd (NYSE:TNP) announced that its CEO, Dr. Nikolas Tsakos, will participate in a Capital Link Webinar. The event will include a discussion on TEN’s development, strategy, and market positioning, as well as insights into the tanker and LNG markets. The one-hour webinar will consist of a 40-minute discussion followed by a live Q&A session. TEN operates a diverse fleet of 65 vessels and celebrates 27 years in the capital markets.