TEN Ltd. Quarterly Dividend Announcement
ATHENS, Greece – TEN Ltd. (NYSE: TEN), a prominent player in the tanker shipping industry, has officially declared its regular quarterly cash dividend for its Series F Cumulative Redeemable Perpetual Preferred Shares. This latest dividend is set at approximately $0.59375 per share, demonstrating the company's financial stability and commitment to rewarding its shareholders.
Understanding the Series F Preferred Shares
The dividend for the Series F Preferred Shares covers the period from the last payment date, which fell on July 30, 2024, and extends through October 29, 2024. These dividends showcase TEN's sound fiscal management and ongoing dedication to maintaining shareholder value.
Upcoming Payment Details
Shareholders can expect their next dividend payment on October 30, 2024, which is to be distributed to all holders of record by October 25, 2024. It’s noteworthy that dividends will be paid quarterly, specifically on the 30th of January, April, July, and October each year, unless the date coincides with a weekend or public holiday, in which case payment will shift to the next business day.
TEN's Commitment to Shareholders
This marks the 25th dividend payment on the Series F since they first began trading on the New York Stock Exchange, indicative of TEN's longstanding commitment to its investors. Currently, there are 6,747,147 Series F Preferred Shares outstanding, reinforcing the robust shareholder base that TEN has cultivated over the years.
The Legacy of TEN Ltd.
Founded in 1993, TEN Ltd. has achieved remarkable growth and stability in the shipping sector, celebrating nearly three decades as a public entity. Its diversified fleet includes 74 vessels, ensuring a broad operational spectrum that encompasses crude oil, products, and LNG. This flexibility positions TEN favourably in the dynamic shipping market.
The Fleet's Significance
TEN's current fleet includes innovative DP2 shuttle tankers, scrubber-fitted suezmax vessels, MR product tankers, and new LR1 tankers under construction. This varied mix not only exemplifies the company's adaptability but also its proactive approach to meeting international shipping demands while prioritizing environmental standards.
Looking Ahead with Optimism
As TEN continues to expand and evolve, its focus remains on increasing shareholder returns while navigating the challenges of the shipping industry. The recent dividend announcement is yet another reflection of the company’s positive outlook and strategic planning aimed at long-term growth.
Contact Information for Investors
For further inquiries, TEN encourages interested parties to reach out directly to their representatives:
Company Contact
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr
Frequently Asked Questions
What is the declared dividend amount for TEN Ltd.?
The declared dividend for TEN Ltd.'s Series F Preferred Shares is approximately $0.59375 per share.
When will the next dividend payment be made?
The next dividend payment will occur on October 30, 2024, for shareholders of record on October 25, 2024.
How many Series F Preferred Shares does TEN have outstanding?
As of the latest announcement, there are 6,747,147 Series F Preferred Shares outstanding.
What is the history of dividend payments for Series F?
This will be the 25th dividend payment for the Series F since they began trading on the New York Stock Exchange.
Who can I contact for more information regarding TEN Ltd.?
For inquiries, you can contact George Saroglou at Tsakos Energy Navigation Ltd. via email at gsaroglou@tenn.gr.
