Exhibit 99.1
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TSAKOS ENERGY NAVIGATION LIMITED (TEN) 367 Syngrou Avenue, 175 64 P. Faliro, Hellas Tel: 30210 94 07 710-3, Fax: 30210 94 07 716, e-mail: ten@tenn.gr Website: http://www.tenn.gr |
Press Release
February 7, 2023
TEN Ltd. Declares Dividend on its
Series D and Series E Cumulative Perpetual Preferred Shares
ATHENS, GREECE, February 7, 2023 – TEN Ltd. (“TEN”) (NYSE: TNP) (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 $0.546875 per share for its Series D Cumulative Perpetual Preferred Shares (the “Series D Preferred Shares”; NYSE; TNPPRD) and the regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TNPPRE).
The dividend on the Series D and Series E is for the period from the most recent dividend payment date of November 28, 2022 through February 27, 2023.
The dividend on the Series D and E Preferred Shares will be paid on February 28, 2023 to all holders of record of Series D and E Preferred Shares as of February 23, 2023. Dividends on the Series D and E Preferred Shares are 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 31st dividend on the Series D and the 24th dividend on the Series E since their commencement of trading on the New York Stock Exchange.
TEN has 3,517,061 Series D and 4,745,947 Series E Preferred Shares outstanding as of the date of this press release.
ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993 and celebrating this year 30 years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 73 double-hull vessels including four dual-fuel LNG powered aframax vessels under construction and two option one shuttle tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.5 million dwt.
Visit our company website at: http://www.tenn.gr
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