TEN Ltd. Declares Dividend on its Series C and Series F Cumulative Redeemable Perpetual Preferred Shares
TEN Ltd., a leading diversified crude, product and LNG tanker operator, yesterday announced that its Board of Directors declared the regular quarterly cash dividend of approximately $0.5547 per share for its Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”; NYSE; TNPPRC) and $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the “Series F Preferred Shares”; NYSE; TNPPRF).
Each dividend of the Series C and F Preferred Shares is for the period from the most recent dividend payment date on April 30, 2020 through July 29, 2020.
The dividend on the Series C and F Preferred Shares will be paid on July 30, 2020 to all holders of record of Series C and F Preferred Shares as of July 27, 2020. Dividends on the Series C and F 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 27th dividend on the Series C and the eighth dividend on the Series F since their commencement of trading on the New York Stock Exchange.
TEN has 2,000,000 Series C Preferred Shares and 6,000,000 Series F Preferred Shares outstanding as of the date of this press release.
Source: Tsakos Energy Navigation Ltd.