TSAKOS ENERGY NAVIGATION LTD (TEN) Form 6-K — May 22, 2026
Tsakos Energy Navigation Limited (TEN) reported a 160% year-over-year surge in Q1 2026 net income to $89 million, driven by robust tanker market fundamentals and geopolitical disruptions that tightened vessel availability. Time charter equivalent earnings reached $40,960 per vessel per day, reflecting strong demand and higher rates secured through contract renewals. The company declared a second semi-annual dividend of $1.00 per share, bringing the total 2026 payout to $1.50 per share, a 36% increase from 2025 and the highest dividend in over a decade. This marks a significant return of capital to shareholders, with cumulative dividends exceeding $1 billion since its NYSE listing.
Key figures
- Eps
- 2.72
- Revenue
- 253000000
- Net Income
- 88843000
- Total Debt
- 2136109000
- Revenue Yoy
- 28.4%
- Total Assets
- 4240718000
- Cash Position
- 321416000
- Adjusted Ebitda
- 153778000
- Interest Income
- 2201000
- Voyage Expenses
- 29847000
- Interest Expense
- 20788000
- Fleet Utilization
- 98.3%
- Tce Per Vessel Per Day
- 40960
- Gain On Sale Of Vessels
- 0
- Vlcc Sale Proceeds Net
- 83000000
- Dividend Per Share Annual
- 1.5
- Vessel Operating Expenses
- 53264000
- Contracted Revenue Backlog
- 3500000000
- Dividend Per Share Semi Annual
- 1
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