TEN Ltd. Announces Significant Dividend on Preferred Shares
TEN Ltd. is proud to announce that its Board of Directors has declared a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This announcement showcases the company’s commitment to delivering value to its shareholders.
Details on the Series F Preferred Shares Dividend
The declared dividend pertains to the period following the last payment made on July 30, 2024, stretching up to October 29, 2024. The dividend will be distributed on October 30, 2024, to all shareholders who hold series F preferred shares as of October 25, 2024. This dividend payment is a part of a continuing cycle of dividends, reflecting a strong financial foundation.
The Schedule and History of Shareholder Payouts
Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30th of January, April, July, and October unless those dates fall on weekends or public holidays—where such scenarios will result in a shift to the subsequent business day. Remarkably, this marks the 25th consecutive dividend payment for the Series F since they began trading on the New York Stock Exchange, symbolizing consistent performance and reliability in delivering shareholder returns.
Company Overview and Fleet Composition
TEN Ltd., established in 1993, has become one of the stalwarts of the public shipping industry, boasting a diverse fleet comprising 74 vessels, including advanced designs such as DP2 shuttle tankers and scrubber-fitted vessels. With a total deadweight tonnage of 8.9 million, the fleet includes a mixture of crude, product tankers, and LNG carriers, embodying TEN’s strong position in the global energy transportation sector.
The Future Outlook of TEN Ltd.
As a significant player in the shipping industry, TEN Ltd. balances growth with financial prudence, setting a strategic course for future dividends and expansion. The company is dedicated to continuously enhancing performance and shareholder value while navigating the complexities of the maritime transport sector. Shareholders can expect TEN Ltd. to keep its financial commitments while working towards innovative solutions in energy transportation.
Frequently Asked Questions
What is the dividend amount declared by TEN Ltd.?
The dividend declared is approximately $0.59375 per share for the Series F Preferred Shares.
When will the dividend be paid?
The dividend is scheduled to be paid on October 30, 2024.
What is the history of the Series F Preferred Shares dividends?
This dividend announcement marks the 25th since the Series F began trading on the New York Stock Exchange.
How many Series F Preferred Shares does TEN Ltd. have outstanding?
As of the date of the announcement, TEN Ltd. has 6,747,147 Series F Preferred Shares outstanding.
What does TEN Ltd. specialize in?
TEN Ltd. is a leading diversified crude, product, and LNG tanker operator, focusing on energy transportation globally.
