TEN Ltd. announced a quarterly dividend of approximately $0.59375 per Series F Preferred Share, payable July 30, 2025.
Quiver AI Summary
TEN Ltd. has announced a cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares, which will be paid on July 30, 2025, to shareholders of record as of July 25, 2025. This dividend covers the period from April 30, 2025, to July 29, 2025, and marks the 28th dividend payout since the Series F began trading on the NYSE. TEN has 6,747,147 Series F Preferred Shares outstanding and typically pays dividends on a quarterly basis. Founded in 1993, TEN is a prominent player in the shipping industry, operating a diversified fleet of 82 vessels. The company emphasizes that the statements in the press release may involve forward-looking risks and uncertainties.
Potential Positives
- Declaration of a quarterly cash dividend of approximately $0.59375 per share for the Series F Preferred Shares demonstrates strong financial health and a commitment to returning value to shareholders.
- This marks the 28th consecutive dividend payment on the Series F Preferred Shares since their inception, highlighting consistency and reliability in dividend payments.
- The continued payment of dividends can enhance institutional investor interest, as it indicates stability and an ongoing commitment to shareholder returns.
- TEN Ltd. has a diversified fleet of 82 vessels and is continuing to expand, which signals growth potential and operational strength in the energy sector.
Potential Negatives
- The announcement of the preferred share dividend may indicate potential limitations on the company's cash flow or liquidity, suggesting a need to balance shareholder returns with operational needs.
- The reliance on preferred shares for dividends may raise concerns among investors about the stability and sustainability of the company's financing and capital structure.
- The emphasis on forward-looking statements underscores the uncertainty regarding future performance and operational risks, which may affect investor confidence.
FAQ
What is the latest dividend declared by TEN Ltd.?
The latest dividend declared by TEN Ltd. is approximately $0.59375 per share for the Series F Preferred Shares.
When will the dividend on Series F Preferred Shares be paid?
The dividend will be paid on July 30, 2025, to all holders of record as of July 25, 2025.
How often are dividends paid on the Series F Preferred Shares?
Dividends on the Series F Preferred Shares are paid quarterly in January, April, July, and October.
How many Series F Preferred Shares are outstanding?
As of the date of the press release, there are 6,747,147 Series F Preferred Shares outstanding.
When did TEN Ltd. start trading on the New York Stock Exchange?
TEN Ltd. has been trading on the New York Stock Exchange since its initial public offering in 1993.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
ATHENS, Greece, July 03, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (“TEN”) (NYSE: TEN) (the “Company”), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE: TENPRF).
The dividend on the Series F Preferred Shares is for the period from the most recent dividend payment date on April 30, 2025, through July 29, 2025.
The dividend on the Series F Preferred Shares will be paid on July 30, 2025 to all holders of record of Series F Preferred Shares as of July 25, 2025. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30 th day (unless the 30 th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN’s board of directors. This is the 28 th dividend on the Series F since their commencement of trading on the New York Stock Exchange.
TEN has 6,747,147 Series F Preferred Shares outstanding as of the date of this press release.
ABOUT TEN Ltd.
Founded in 1993 and celebrating 32 years as a public company, TEN is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 82 vessels, including twelve DP2 shuttle tankers, two scrubber fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 10.1 million dwt.
ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
[email protected]
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
[email protected]
