TEN Ltd. Announces Dividend for Preferred Shares Ahead of Schedule
TEN Ltd. Sets Regular Dividend for Series F Preferred Shares
ATHENS, Greece — TEN Ltd. (“TEN”) (NYSE: TEN), a prominent company in the energy transportation sector, has officially declared a quarterly cash dividend of approximately $0.59375 for its Series F Cumulative Redeemable Perpetual Preferred Shares.
This dividend represents a continued commitment by TEN to reward its shareholders, covering the period that extends from January 30 to April 29, 2025. It will be paid to all holders of record of the Series F Preferred Shares on April 30, 2025, consistent with TEN’s established schedule.
Understanding the Payment Structure of the Dividend
Dividends are a key aspect of investment returns, and TEN’s payment process is structured for clarity and consistency. The Series F Preferred Shares' dividends are disbursed quarterly, with payment occurring on the 30th of January, April, July, and October each year, unless the date falls on a weekend or holiday, in which case, payment is moved to the next business day. This announcement marks the 27th dividend distributed since the Series F shares began trading.
Outstanding Shares and Shareholder Relations
As of now, TEN has 6,747,147 Series F Preferred Shares outstanding. This figure is essential, as it indicates the amount of preferred shares held by investors and reflects TEN's commitment to maintaining solid investor relationships through regular and timely dividend payments.
About TEN Ltd.
TEN Ltd. has a rich history dating back to its founding in 1993. Celebrating over three decades as a public entity, TEN is well-recognized in the global shipping industry as one of the earliest public shipping companies. The company's impressive fleet consists of 82 vessels, including diverse types such as shuttle tankers, Suezmax vessels, and product tankers with an aggregate deadweight tonnage of around 10.1 million. TEN's ability to adapt and expand its fleet underscores its role as a significant player in the energy transport sector.
Future Developments and Market Strategy
As the energy market evolves, TEN is strategically positioned to navigate changes and seize new opportunities. Its diversified fleet enhances its operational flexibility while addressing various market demands. Continued investments in technology and infrastructure aim to keep TEN at the forefront of the shipping industry.
Frequently Asked Questions
What is the announced dividend amount for TEN Ltd.'s Series F Shares?
The announced dividend amount is approximately $0.59375 per share.
When will the dividend be paid to shareholders?
The dividend will be paid on April 30, 2025, to all holders of record as of April 25, 2025.
How does TEN's dividend payment schedule work?
TEN pays dividends quarterly, typically on the 30th of January, April, July, and October each year, unless adjusted for weekends or holidays.
How many Series F Preferred Shares are currently outstanding?
There are currently 6,747,147 Series F Preferred Shares outstanding.
What is the significance of this dividend for investors?
This dividend demonstrates TEN's ongoing commitment to providing returns to its shareholders and reflects the company's solid financial performance and stability.
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