TEN to Redeem all of its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares

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Tsakos Energy Navigation Ltd. (“TEN”), a leading diversified crude, product and LNG tanker operator, announced that it has called for redemption all 2,000,000 of its outstanding 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (NYSE: TNP-PB).

The redemption of the Series B Preferred Shares will occur on July 30, 2019.  The redemption price will be equal to $25.00 per share.

All shares of Series B Preferred Shares are held in book-entry form through the Depository Trust Company (“DTC”). The Series B Preferred Shares will be redeemed in accordance with the applicable  procedures of DTC. Payment to DTC for the shares of Series B Preferred Shares will be made by Computershare Trust Company, LLC, as redemption agent (the “Redemption Agent”).  The address for the Redemption Agent is as follows:

Computershare Inc.
150 Royall Street
Canton, MA  02021

July 30, 2019 is also the final dividend payment date for the Series B Preferred Shares. The record date for that dividend is July 29, 2019. Payment of the final dividend of $0.50 per Series B Preferred Share will be made on the redemption date of July 30, 2019. The dividend is for the period from the most recent dividend payment date on April 30, 2019 through July 29, 2019. Dividends on the Series B Preferred Shares will cease to accumulate from and after the Redemption Date.

 

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