ATHENS, GREECE--(Marketwired - Feb 10, 2017) - TEN Ltd. ("TEN") (NYSE: TNP), a leading crude, product, and LNG tanker operator, today announced that its Board of Directors declared a cash dividend of $0.546875 per share for its 8.75% Series D Cumulative Perpetual Preferred Shares (the "Series D Preferred Shares"; NYSE; TNPPRD) for the period from November 28, 2016 through February 27, 2017. The dividend will be paid on February 28, 2017 to all holders of record of the Series D Preferred Shares as of the third business day prior to the dividend payment date, which is February 23, 2017.
Dividends on the Series D Preferred Shares will be payable quarterly in arrears on the 28th day (unless the 28th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year when, as and if declared by TEN's Board of Directors. This is the seventh dividend on the Series D Preferred Shares.
TEN has 3,400,000 Series D Preferred Shares outstanding as of the date of this press release.
ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. The Company's pro-forma fleet, including five Aframax crude tankers and a Suezmax DP2 shuttle tanker which are under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers. All of TEN's tanker newbuildings are fixed on long-term project businesses.
NEWBUILDINGS DELIVERED & VESSELS UNDER CONSTRUCTION
| # |
|
Vessel Name |
|
Type |
|
Dwt |
|
Delivery |
|
Status |
|
Employment |
| 1 |
|
Ulysses |
|
VLCC |
|
300,000 |
|
June 2016 |
|
Delivered |
|
Yes |
| 2 |
|
Elias Tsakos |
|
Aframax |
|
112,700 |
|
June 2016 |
|
Delivered |
|
Yes |
| 3 |
|
Thomas Zafiras |
|
Aframax |
|
112,700 |
|
Aug 2016 |
|
Delivered |
|
Yes |
| 4 |
|
Leontios H |
|
Aframax |
|
112,700 |
|
Oct 2016 |
|
Delivered |
|
Yes |
| 5 |
|
Parthenon TS |
|
Aframax | |
112,700 |
|
Q4 2016 |
|
Delivered |
|
Yes |
| 6 |
|
Marathon TS |
|
Aframax |
|
112,700 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 7 |
|
Sola TS |
|
Aframax |
|
112,700 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 8 |
|
Oslo TS |
|
Aframax |
|
112,700 |
|
Q2 2017 |
|
TBD |
|
Yes |
| 9 |
|
Stavanger TS |
|
Aframax |
|
112,700 |
|
Q3 2017 |
|
TBD |
|
Yes |
| 10 |
|
Bergen TS |
|
Aframax |
|
112,700 |
|
Q4 2017 |
|
TBD |
|
Yes |
| 11 |
|
Sunray |
|
Panamax LR1 |
|
74,200 |
|
Aug 2016 |
|
Delivered |
|
Yes |
| 12 | |
Sunrise |
|
Panamax LR1 |
|
74,200 |
|
Sep 2016 |
|
Delivered |
|
Yes |
| 13 |
|
Maria Energy |
|
LNG |
|
93,616 |
|
Oct 2016 |
|
Delivered |
|
Yes |
| 14 |
|
Lisboa |
|
DP2 Shuttle |
|
157,000 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 15 |
|
Hercules I |
|
VLCC |
|
300,000 |
|
Q1 2017 |
|
Delivered |
|
Yes |
Visit our company website at: http://www.tenn.gr
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.