TEN Ltd. Declares Dividend on its 8.75% Series D and 9.25% Series E Cumulative Perpetual Preferred Shares

ATHENS, GREECE–(Marketwired – Aug 10, 2017) – 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 8.75% Series D Cumulative Perpetual Preferred Shares (the “Series D Preferred Shares”) (NYSE: TNPPRD) and a cash dividend of $0.578125 per share for its 9.25% 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 on May 28, 2017 through August 27, 2017. 
The dividend on the Series D and E Preferred Shares will be paid on August 28, 2017 to all holders of record of Series D and E Preferred Shares as of August 23, 2017. 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 ninth dividend on the Series D and the second dividend on the Series E since their commencement of trading on the New York Stock Exchange.
TEN has 3,424,803 Series D and 4,600,000 Series E 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. TEN’s pro-forma fleet, including one Aframax tanker 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.
COMPANY’S GROWTH TIME-TABLE

#
 
Vessel Name
 
Type
 
Dwt
 
Delivery
 
Status
 
LT Contracts

1
 
Ulysses
 
VLCC
 
300,000
 
May 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
 
Nov 2016
 
Delivered
 
Yes

6
 
Sunray
 
Panamax LR1
 
74,200
 
Aug 2016
 
Delivered
 
Yes

7
 
Sunrise
 
Panamax LR1
 
74,200
 
Sep 2016
 
Delivered
 
Yes

8
 
Maria Energy
 
LNG
 
93,616
 
Oct 2016
 
Delivered
 
Yes

9
 
Hercules I
 
VLCC
 
300,000
 
Jan 2017
 
Delivered
 
Yes

10
 
Marathon TS
 
Aframax
 
112,700
 
Feb 2017
 
Delivered
 
Yes

11
 
Lisboa
 
DP2 Shuttle
 
157,000
 
Mar 2017
 
Delivered
 
Yes

12
 
Sola TS
 
Aframax
 
112,700
 
Apr 2017
 
Delivered
 
Yes

13
 
Oslo TS
 
Aframax
 
112,700
 
May 2017
 
Delivered
 
Yes

14
 
Stavanger TS
 
Aframax
 
112,700
 
July 2017
 
Delivered
 
Yes

15
 
Bergen TS
 
Aframax
 
112,700
 
Q3 2017
 
TBD
 
Yes

LT: Long-Term
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.

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