TEN Ltd. Announces Dividend for Series F Cumulative Redeemable Preferred Shares
ATHENS, Greece — TEN Ltd. (NYSE: TEN), a prominent player in the tanker shipping industry, has shared exciting news regarding its Series F Preferred Shares. The company's Board of Directors has confirmed a regular quarterly cash dividend of approximately $0.59375 per share for these shares. This latest announcement demonstrates TEN's ongoing commitment to returning value to its shareholders.
The dividend payment reflects the period from the previous payment date on October 30, 2024, continuing through January 29, 2025. This scheduled payment highlights TEN's reliable dividend distribution policy, consistently paying out dividends every quarter.
Details of the Dividend Payment
The upcoming dividend will be paid on January 30, 2025, to all holders of record for the Series F Preferred Shares as of January 27, 2025. TEN has a structured approach to these payments, with dividends occurring quarterly, specifically on the 30th day of January, April, July, and October. Should any of these dates fall on a weekend or public holiday, the payment will be shifted to the next business day. This approach has made TEN's dividend payments predictable and dependable.
Consistent Track Record of Dividend Payments
This marks the 26th dividend issued on the Series F Preferred Shares, a testament to TEN's stability and financial health since beginning their trading on the New York Stock Exchange. The company currently has 6,747,147 Series F shares outstanding, underscoring the significant interest and investment in these shares by the public.
About TEN Ltd.
Founded in 1993, TEN Ltd. has established itself as one of the most respected names in the global shipping sector. With over 30 years of public company experience, TEN operates a diversified fleet of 74 vessels, which includes state-of-the-art DP2 shuttle tankers and various product and crude carriers. The company’s fleet is meticulously managed to ensure safety, efficiency, and environmental sustainability.
Expanding Asset Base
Notably, TEN's innovative approach includes the addition of scrubber-fitted vessels, enhancing its operational capabilities even further. Presently, five additional scrubber-fitted LR1 tankers are under construction, which is a promising step in expanding their asset base and adapting to stringent environmental regulations.
Investor Relations Contact
For those seeking further information about TEN Ltd. or its financial activities, the corporate team is available for inquiries. George Saroglou, President & COO, can be reached directly at +30210 94 07 710 or via email at gsaroglou@tenn.gr.
Media Relations
Inquiries regarding investor relations can also be directed to Capital Link, Inc. Contact Nicholas Bornozis or Markella Kara at +212 661 7566, or send an email to ten@capitallink.com.
Frequently Asked Questions
What is the amount of the dividend declared by TEN Ltd.?
TEN Ltd. declared a dividend of approximately $0.59375 per share for its Series F Preferred Shares.
When will the dividend be paid?
The dividend will be paid on January 30, 2025.
What is the significance of this dividend announcement?
This announcement marks the 26th consecutive dividend payment on the Series F Preferred Shares, reflecting the company's strong financial stability.
How many Series F Preferred Shares are currently outstanding?
As of the latest information, TEN has 6,747,147 Series F Preferred Shares outstanding.
How can I contact TEN Ltd. for more information?
You can reach TEN Ltd.'s President & COO George Saroglou at +30210 94 07 710 or email him at gsaroglou@tenn.gr.
