TEN Ltd. Announces Cash Dividend for Preferred Shares
TEN Ltd., a notable player in the maritime sector, has made an important announcement regarding the dividend for its Series F Cumulative Redeemable Perpetual Preferred Shares. This decision was made by the Board of Directors, reflecting the company’s dedication to its investors.
Details of the Dividend Declaration
The declared quarterly cash dividend is approximately $0.59375 per share for the Series F Preferred Shares, which are traded on the NYSE under the ticker TENPRF. This strategic move highlights TEN's commitment to providing monetary returns to its shareholders.
Dividend Payment Schedule
The dividend covering the period from the previous payment date will be paid on July 30 to all holders on record as of July 25. Dividends are typically paid quarterly. These will be distributed on the 30th day of January, April, July, and October of each year unless adjusted for weekends or public holidays. This marks the 28th dividend since the Series F commenced trading.
Outstanding Shares and Company Overview
As of now, TEN has 6,747,147 Series F Preferred Shares outstanding. Founded in 1993, TEN Ltd. stands as one of the world’s first established public shipping companies. Celebrating over three decades of operations, the company’s diverse energy fleet includes 82 vessels, ranging from shuttle tankers to MR product tankers. Its robust infrastructure boasts a total deadweight tonnage of approximately 10.1 million.
Commitment to Shareholder Value
TEN Ltd. prioritizes returning value to its shareholders through consistent dividend payments, showcasing financial stability and growth within the competitive maritime industry. This dividend declaration is a positive signal for investors looking for reliable income streams.
About TEN Ltd.
Based in Athens, Greece, TEN Ltd. operates a comprehensive fleet that includes various tankers catering to the energy sector's diverse needs. The company’s solid operational framework and strategic fleet management continue to position it favorably in a competitive market.
Frequently Asked Questions
What is the dividend amount declared by TEN Ltd.?
The declared dividend for the Series F Preferred Shares is approximately $0.59375 per share.
When will the dividend be paid?
The dividend will be paid on July 30 to all holders of record as of July 25.
How many Series F Preferred Shares are outstanding?
There are currently 6,747,147 Series F Preferred Shares outstanding.
What types of vessels does TEN Ltd. operate?
TEN Ltd. operates various vessels, including shuttle tankers, product tankers, and LNG carriers.
When was TEN Ltd. founded?
Founded in 1993, TEN Ltd. has successfully operated as a public company for over 30 years.
