Tsakos Energy Navigation Declares Dividend

Tsakos Energy Navigation Limited, a crude, product and LNG tanker operator, has  announced that its Board of Directors declared regular quarterly cash dividends of $0.50 per share for its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares and $0.5547 per share for its 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares.

Each dividend is for the period from the most recent dividend payment date on July 30, 2014 through October 29, 2014.

The dividend on the Series B Preferred Shares will be paid on October 30, 2014 to all holders of record of Series B Preferred Shares as of October 29, 2014.

The dividend on the Series C Preferred Shares will be paid on October 30, 2014 to all holders of record of Series C Preferred Shares as of October 27, 2014. Dividends on the Series B and C Preferred Shares will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, when, as and if declared by TEN’s board of directors. This is the sixth dividend on the Series B and the fourth dividend on the Series C. TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.