Tsakos Energy Navigation Limited

TEN, Ltd. Announces Common Shares Dividend and Share Repurchase Authorization

TEN, Ltd. (NYSE: TEN) announced its first semi-annual common dividend of $1.00 per share, to be distributed in January 2027 with record and payment dates to follow. The payout represents a 100% increase over the comparable 2026 semi-annual payment, decided following the company's Strategy Meeting. The board also authorized the repurchase of up to $150 million of common and preferred shares, with timing and pricing dependent on market conditions. TEN operates a diversified pro-forma energy fleet of 80 vessels totaling approximately 10.4 million dwt.

•13d ago

TEN, Ltd. Continues Its Fleet Renewal and Reports Sale of Panamax Tanker

TEN, Ltd. sold the oldest vessel in its fleet, the 2003-built Panamax tanker Andes, to independent third parties. The sale generated approximately $13.0 million of free cash and a $4.6 million capital gain, to be recorded in Q3 2026. The divestiture continues TEN's fleet renewal program alongside a 26-vessel newbuilding orderbook, with seven already delivered; the pro-forma fleet stands at 80 vessels totaling roughly 10.4 million dwt.

•1mo ago

TEN, Ltd. Reports Profits for the First Half and Second Quarter of 2026

TEN, Ltd. delivered record first-half 2026 results, with gross revenues of $551.4 million (up $161.0 million YoY) and net income of $228.1 million, or $7.12 per share — a 318% increase from $1.70 a year earlier. Q2 net income reached $139.3 million, or $4.40 per share, up more than 500% from $0.67, on revenue of $298.4 million (up 54% YoY) as average TCE rates rose 50% to $46,100 per vessel per day. Both periods include $38 million in capital gains from vessel sales. The company holds $3.6 billion in minimum contracted revenue, has 26 vessels under construction (seven already delivered), and paid $1.50 per share in common dividends during 2026, with cumulative distributions exceeding $1.0 billion by year-end. TEN also sold two 2006-built suezmaxes for $100 million net and took delivery of the shuttle tanker Anfield DP into a 10-year charter with a US oil major expected to generate up to $500 million in gross revenue.

•1mo ago

TEN Ltd. Announces Sale of Two First-Generation Suezmax Tankers

TEN announced the sale of two 2006-built Suezmax tankers, releasing in excess of $100 million to the company's cash reserves. The transaction is part of the company's dynamic renewal program, which includes a 26-vessel newbuilding pipeline where seven vessels have already been delivered. Management highlighted $3.5 billion in future minimum secured revenues and an 81-vessel fleet totaling approximately 10.5 million dwt.

•2mo ago

TEN Ltd. Declares Dividend on its Series E Cumulative Perpetual Preferred Shares

TEN declared a regular quarterly cash dividend of $0.578125 per share on its Series E Cumulative Perpetual Preferred Shares. The dividend is payable on August 28, 2026, to holders of record as of August 25, 2026, covering the period from May 28, 2026, through August 27, 2026. There are 4,745,947 Series E Preferred Shares outstanding, and this marks the 38th dividend declared on this series.

•3mo ago

TEN Ltd. Announces Delivery and Naming of the Third in a Series of Twelve DP2 Shuttle Tankers Ordered at Samsung Heavy Industries, South Korea

TEN announced the delivery and naming of the 'Anfield DP,' a DP2 suezmax shuttle tanker built by Samsung Heavy Industries and the third in a series of 12. The vessel has commenced a 10-year employment with a US oil major, further advancing the company's expansion in the Brazilian offshore market and increasing its active shuttle tanker fleet to seven. Management highlighted a secured revenue backlog of approximately $3.5 billion across its 82-vessel pro-forma fleet, which it believes supports continued growth and shareholder dividends.

•3mo ago

TEN, Ltd. Reports Profits for First Quarter 2026 and Declares Second Semi-Annual Common Share Dividend of $1.00

TEN, Ltd. reported Q1 2026 net income of $89 million, a 160% increase year-over-year, driven by strong tanker market fundamentals and a 55% rise in Adjusted EBITDA to $154 million. The company declared a second semi-annual dividend of $1.00 per share, bringing the 2026 aggregate to $1.50, a 36% increase over 2025 and the highest in over a decade. Fleet utilization reached 98.3% with time charter equivalent earnings of $40,960 per vessel per day, supported by a contracted revenue backlog exceeding $3.5 billion and solid cash reserves of $321.4 million.

•5mo ago