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Tsakos Energy Navigation Ltd, 9.25% Ser E Fixed/Float Cumul Red Perp Prfd Shares
Ticker Symbol: TNP-E     CUSIP: G9108L157     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Tsakos Energy Navigation Ltd, 9.25% Series E Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/28/2027 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions at a fixed rate of 9.25% per annum ($2.3125 per annum or $0.578125 per quarter) will be paid quarterly on 2/28, 5/28, 8/28 & 11/28 to holders of record on the record date that will be three business days immediately prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From and including 5/28/2027 the dividend rate will be a floating rate equal to three-month LIBOR plus a spread of 6.881% per annum. Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-47 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
FixFloat
$2.3125
$25.00
$25.00
5/28/2027
None
NF NF
4/08/2019
2/28, 5/28, 8/28 & 11/28
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Goto Parent Company's Record (TNP)

IPO - 3/29/2017 - 4.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: TNPEP    Changed: 4/10/2017
Market Value $100.0 Million

Company's Online Information Links
HOME PAGE:     http://www.tenn.gr/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Inv Rel Email Address ten@capitallink.com
General Email Address ten@tenn.gr
Email Contact Form on Website Goto Email Form

Foreign Address and Phone Numbers
Address:   Megaron Makedonia, 367 Syngrou Avenue, 175 64P, Faliro, Athens, Greece
Main Phone Number +30-210 94 07710-13
Fax Number +30-210 94 07716
Inv Rel Phone Number +30-210 94 07716

Address and Phone Numbers
U.S. Representative N.A.
Address:   
Main Phone Number Not Available
Fax Number Not Available
Investor Relations   Nicolas Bornozis, Capital Link, Inc. 212-661-7566
Toll Free Phone Number Unknown
CEO - Nikolas P. Tsakos CFO - Paul Durham

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