Tsakos Energy Navigation Ltd. Stock Price, News & Analysis

TEN, Ltd. reported a 6% increase in voyage revenues for 2021, totaling $546.1 million despite a net loss of $58.4 million. The fourth quarter saw a net loss of $14.9 million, yet improved vessel utilization at 96.1% and a healthy TCE of $16,891 indicates potential recovery. The company will pay a semi-annual dividend of $0.10 in June 2022, contributing to $500 million paid since its 2002 NYSE listing. With a fixed revenue backlog exceeding $1 billion and new dual-fuel vessels under contract, TEN aims to capitalize on increasing LNG demand and improve market positioning.

On April 6, 2022, TEN Ltd. (NYSE: TNP) announced a quarterly cash dividend of $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend is for the period from January 30, 2022, to April 29, 2022, and will be paid on May 2, 2022, to those on record as of April 27, 2022. This marks the 15th dividend since the shares began trading on the NYSE. TEN has 6,747,147 Series F Preferred Shares outstanding, highlighting its commitment to shareholders.

Tsakos Energy Navigation (TNP) will release its fourth quarter and full-year earnings for 2021 on April 14, 2022, before the New York market opens. A conference call will follow at 10:00 a.m. ET, hosted by senior management. The call will provide insights beyond the earnings release. TEN, established in 1993, operates a fleet of 71 double-hull vessels totaling 8.0 million deadweight tons and has a newbuilding program that includes advanced tankers powered by LNG.

TEN Ltd. (NYSE:TNP) announced a 24-month extension for charters of two panamax tankers with a South American oil company, generating minimum gross revenues of $25 million. The new agreements reflect TEN’s commitment to long-term partnerships, aiming for full fleet utilization and upside potential in uncertain market conditions. The company's fleet consists of 71 vessels totaling 8.0 million dwt, including newbuilding projects for environmentally friendly tankers. TEN is known for its established presence in the shipping industry since 1993.

On February 8, 2022, TEN Ltd. (NYSE: TNP) announced quarterly cash dividends of $0.546875 per share for Series D and $0.578125 per share for Series E Cumulative Perpetual Preferred Shares. These dividends cover the period from November 28, 2021, to February 27, 2022, and are payable on February 28, 2022, to holders of record as of February 23, 2022. With 3,517,061 Series D and 4,745,947 Series E shares outstanding, this marks the 27th and 20th dividend distributions for each series, respectively.

On January 18, 2022, Tsakos Energy Navigation (NYSE:TNP) will participate in Capital Link's Corporate Presentation Series at 11:00 am EST. The senior management team, including Dr. Nikolas P. Tsakos and George Saroglou, will discuss the company’s operations, growth prospects, and outlook for the crude, product, and LNG tanker sectors. Interested participants can register for the webinar online and are encouraged to submit questions during the session.

TEN Ltd. (NYSE: TNP) has announced the delivery of the LNG carrier TENERGY in South Korea, followed by an immediate charter to a major end-user. This contract is set for a minimum of five years and is expected to generate minimum gross revenues of about $100 million. The company also highlighted a revenue backlog exceeding $1 billion, providing strong cash flow visibility. TEN aims to expand its footprint in the LNG sector with environmentally friendly vessels, reinforcing its growth strategy.

TEN Ltd. (NYSE: TNP) has announced a quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This dividend is for the period from October 30, 2021, to January 29, 2022, and will be paid on January 31, 2022, to shareholders on record as of January 26, 2022. This marks the 14th dividend since the commencement of trading of the Series F shares. Currently, there are 6,747,147 Series F Preferred Shares outstanding.

On December 16, 2021, TEN reported its Q3 and nine-month results, highlighting a positive cash flow amid a challenging tanker market. The company generated adjusted EBITDA of $19.5 million in Q3, with voyage revenues of $131.6 million and a 90% vessel utilization rate. Operating expenses decreased by 9%, contributing to a reduction in daily operating costs. Total debt was cut by $115 million since 2020. TEN secured long-term charters expected to generate $500 million in revenues. Despite a net loss of $25 million in Q3 due to non-cash charges, the outlook remains optimistic as market recovery is noted.