Welcome to our dedicated page for Tsakos Energy Navigation news (Ticker: TNP), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy Navigation stock.
Tsakos Energy Navigation Limited reports developments as a NYSE-listed tanker operator carrying crude oil, refined products and LNG. Company news centers on fleet renewal, vessel acquisitions and sales, newbuilding deliveries, dual-fuel and scrubber-fitted tankers, and employment of vessels under time-charter contracts with profit-sharing provisions.
Recurring updates also cover earnings releases, common-share dividends, annual shareholder meetings and capital-market changes. In 2024 the company changed the NYSE ticker for its common shares from TNP to TEN and aligned the symbols for its Series E and Series F cumulative perpetual preferred shares.
TEN, Ltd (NYSE:TNP) announced a contract for constructing up to three suezmax DP2 shuttle tankers for long-term employment with a major European end-user. The vessels, to be built in South Korea, are projected to generate minimum revenues of approximately $250 million if all contracts are exercised. COO George Saroglou emphasized that this move will enhance market share and improve profitability while maintaining a focus on fleet growth and shareholder returns through dividends and stock buybacks.
Tsakos Energy Navigation Ltd. (NYSE: TNP) has declared a quarterly cash dividend of $0.5547 per share for its Series C Preferred Shares and $0.59375 per share for its Series F Preferred Shares. Both dividends are for the period from April 30, 2020, to July 29, 2020, and will be paid on July 30, 2020, to shareholders on record as of July 27, 2020. This marks the 27th dividend for Series C and the 8th for Series F since their trading began on the NYSE.
TEN Ltd. (NYSE:TNP), a prominent tanker operator, will participate in the Lytham Partners Virtual Investor Growth Conference on June 24, 2020, at 8:00am ET. A webcast of the presentation will be available on their investor relations website and can also be accessed through specific links provided. Additionally, management will hold virtual one-on-one meetings. TEN, established in 1993, operates a diversified fleet of 68 double-hull vessels, including crude and product tankers, with a total weight of 7.6 million dwt.
TEN, Ltd (TNP) reported a strong Q1 2020 with gross revenues reaching approximately $180 million, a $32 million increase from Q1 2019. Operating income doubled to $54.7 million, and net income soared by 250% to $39.3 million. The company announced a 50% increase in its special dividend to 7.5 cents per share, payable on June 26, 2020. With a high fleet utilization rate of 97% and cash reserves of $221 million, TEN has showcased solid financial stability amidst the ongoing pandemic. The company also plans a one-for-five reverse share split effective July 1, 2020, aimed at increasing investor attractiveness.
Ten Ltd. (TNP) will report its Q1 earnings on June 11, 2020, before market open. A conference call is scheduled for 9:00 a.m. ET on the same day to discuss results and management's outlook. The company's diversified fleet has 69 vessels, including crude, product, and LNG carriers, with a total deadweight tonnage of 7.6 million dwt. TEN has been a public company for 27 years and continues to expand its operations in the energy shipping sector.
ATHENS, Greece, May 05, 2020 - TEN Ltd. (NYSE: TNP) has declared quarterly cash dividends for its Series D and Series E Cumulative Perpetual Preferred Shares. The Series D dividend is set at $0.546875 per share, while the Series E dividend is $0.578125 per share. These dividends cover the period from February 28 to May 27, 2020, and will be paid on May 28, 2020, to holders on record as of May 22, 2020. This marks the 20th dividend for Series D and the 13th for Series E, with a total of 3,424,803 Series D and 4,600,000 Series E shares outstanding.