TEN Semi-Annual Dividend

Monday, 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.
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type,

PetroVietNam Gas's Q1 gross profit falls 27.5%

PetroVietNam Gas's first-quarter gross profit fell 27.5 percent to 3.9 trillion dong ($185 million) from a year earlier, the Lao Dong (Labour) newspaper reported.

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0951 sec (11 req/sec)