ATHENS, GREECE--(Marketwired - Nov 10, 2016) - TEN Ltd. ("TEN") (NYSE: TNP), a leading crude, product, and LNG tanker
operator, today announced that its Board of Directors declared a cash dividend of $0.546875 per share for its 8.75% Series D
Cumulative Perpetual Preferred Shares (the "Series D Preferred Shares") (NYSE: TNPPRD) for the period from August 28, 2016
through November 27, 2016. The dividend will be paid on November 28, 2016 to all holders of record of the Series D Preferred
Shares as of the third business day prior to the dividend payment date, which is November 22, 2016 as November 24, 2016 is a
public holiday (Thanksgiving) this year.
Dividends on the Series D Preferred Shares will be payable quarterly in arrears on the 28th day (unless the
28th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of
February, May, August and November of each year when, as and if declared by TEN's Board of Directors. This is the sixth
dividend on the Series D Preferred Shares.
TEN has 3,400,000 Series D 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, six Aframax crude tankers and a Suezmax DP2 shuttle tanker all under construction,
consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 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 are fixed on long-term project businesses.
VESSELS UNDER CONSTRUCTION
| # |
|
Vessel Name |
|
Type |
|
Dwt |
|
Delivery |
|
Status |
|
Employment |
| 1 |
|
Ulysses |
|
VLCC |
|
300,000 |
|
June 2016 |
|
Delivered |
|
Yes |
| 2 |
|
Elias Tsakos |
|
Aframax |
|
112,700 |
|
June 2016 |
|
Delivered |
|
Yes |
| 3 |
|
Thomas Zafiras |
|
Aframax |
|
112,700 |
|
Aug 2016 |
|
Delivered |
|
Yes |
| 4 |
|
Leontios H |
|
Aframax |
|
112,700 |
|
Oct 2016 |
|
Delivered |
|
Yes |
| 5 |
|
Parthenon TS |
|
Aframax |
|
112,700 |
|
Q4 2016 |
|
TBD |
|
Yes |
| 6 |
|
Marathon TS |
|
Aframax |
|
112,700 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 7 |
|
Sola TS |
|
Aframax |
|
112,700 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 8 |
|
Oslo TS |
|
Aframax |
|
112,700 |
|
Q2 2017 |
|
TBD |
|
Yes |
| 9 |
|
Stavanger TS |
|
Aframax |
|
112,700 |
|
Q3 2017 |
|
TBD |
|
Yes |
| 10 |
|
Bergen TS |
|
Aframax |
|
112,700 |
|
Q4 2017 |
|
TBD |
|
Yes |
| 11 |
|
Sunray |
|
Panamax LR1 |
|
74,200 |
|
Aug 2016 |
|
Delivered |
|
Yes |
| 12 |
|
Sunrise |
|
Panamax LR1 |
|
74,200 |
|
Sep 2016 |
|
Delivered |
|
Yes |
| 13 |
|
Maria Energy |
|
LNG |
|
93,616 |
|
Oct 2016 |
|
Delivered |
|
Yes |
| 14 |
|
Lisboa City |
|
DP2 Shuttle |
|
157,000 |
|
Q1 2017 |
|
TBD |
|
Yes |
| 15 |
|
Hercules |
|
VLCC |
|
300,000 |
|
Q1 2017 |
|
TBD |
|
In Negotiations |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Visit our company website at: http://www.tenn.gr
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.