TEN Semi-Annual Dividend

March 15, 2010

Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced that its Board of Directors has declared the company’s semi-annual dividend of $0.30 per share payable April 29 2010 with a record date of April 23 2010 and an ex-dividend date of April 21 2010.

“We are pleased to announce the second semi-annual dividend for fiscal 2009 of $0.30, raising the total distribution for the year to $0.60 per share. The sustainability of our dividend distributions is a testament to TEN’s fleet, operational and commercial strategies, the strong balance sheet and overall capital structure, which enables the company to remain profitable and to generate positive cash flows even in difficult economic climates” commented Mr. D. John Stavropoulos, Chairman of the Board. “In these most testing times for the world’s economy, TEN is proud to be navigating a steady ship and maintaining its ability to reward its shareholders with healthy dividend distributions.”

TEN intends to continue to pay cash dividends representing between one-quarter and one-half of ordinary net income. Such payments are subject to the discretion of the Board of Directors and depend on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, capital commitments, future prospects for earnings and cash flows, as well as other relevant factors. The company pays a semi-annual dividend for a given fiscal year in October of that year and in April of the following year.

TEN will have distributed $8.175 per share in dividends to its shareholders since the company was listed on the NYSE in March of 2002. The listing price was $7.50 per share accounting for the 2-1 share split of November 14 , 2007.
 

Logistics News

Major Colombian Container Terminal Orders 25 Konecranes RTGs and 10 Retrofits

Major Colombian Container Terminal Orders 25 Konecranes RTGs and 10 Retrofits

Stena Line welcomes Stena Futura onto Belfast-Heysham route

Stena Line welcomes Stena Futura onto Belfast-Heysham route

South Korea's HD Hyundai Heavy Eyes Acquisition of US Shipyard

South Korea's HD Hyundai Heavy Eyes Acquisition of US Shipyard

ASEAN Looks to Deepen Trade Ties with China

ASEAN Looks to Deepen Trade Ties with China

Subscribe for Maritime Logistics Professional E‑News

SEBI of India dismisses Hindenburg claims against Adani group
Executive says that holiday season imports are already arriving at the busiest US port.
Egypt's billboard explosion strains the eyes, but increases profits