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.
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.