Series B Cumulative Redeemable Perpetual Preferred Shares (the “Series B Preferred Shares”; NYSE; TNPPRB) and approximately $0.5547 per share for its 8.875\% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”; NYSE; TNPPRC).
Each dividend is for the period from the most recent dividend payment date on July 30, 2016 through October 29, 2016.
The dividend on the Series B Preferred Shares will be paid on October 31, 2016 to all holders of record of Series B Preferred Shares as of October 28, 2016. The dividend on the Series C Preferred Shares will be paid on October 31, 2016 to all holders of record of Series C Preferred Shares as of October 26, 2016.
Dividends on the Series B and C Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th 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 14th dividend on the Series B and the 12th dividend on the Series C since their commencement of trading on the New York Stock Exchange.
TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.
ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. The Company’s pro-forma fleet, including one VLCC, one LNG carrier, seven Aframax tankers and a Suezmax DP2 shuttle tanker all under construction, consists of 65 doublehull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers. All of TEN’s tanker newbuildings except the one remaining VLCC Hercules and the LNG carrier Maria Energy are fixed on long-term project businesses.
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