SOURCE: Tsakos Energy Navigation

Tsakos Energy Navigation

May 10, 2016 09:00 ET

Tsakos Energy Navigation Limited Declares Dividend on Its 8.75% Series D Cumulative Perpetual Preferred Shares

ATHENS, GREECE--(Marketwired - May 10, 2016) - Tsakos Energy Navigation Limited ("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 February 28, 2016 through May 27, 2016. The dividend will be paid on May 31, 2016 to all holders of record of the Series D Preferred Shares as of May 25, 2016 as the dividend payment date of May 28, 2016 falls on a Saturday this year and Monday, May 30, 2016 is a public holiday in the U.S.

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 fourth 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 FORWARD-LOOKING STATEMENTS
To date, TEN's pro-forma fleet, including two VLCCs, an LNG carrier, nine Aframax crude oil tankers, a Suezmax DP2 shuttle tanker and two LR1 tankers all under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 7.2 million dwt. Of these, 47 vessels trade in crude, 13 in products, three are shuttle tankers and two are LNG carriers.

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.

TSAKOS ENERGY NAVIGATION LIMITED (TEN)
367 Syngrou Avenue, 175 64 P. Faliro, Hellas
Tel: 30210 94 07 710-3
Fax: 30210 94 07 716
e-mail: ten@tenn.gr
Website: http://www.tenn.gr

Contact Information

  • For further information please contact:

    Company
    Tsakos Energy Navigation Ltd.
    George Saroglou
    COO
    +30210 94 07 710
    gsaroglou@tenn.gr

    Investor Relations / Media
    Capital Link, Inc.
    Nicolas Bornozis
    Paul Lampoutis
    +212 661 7566
    ten@capitallink.com