Tsakos Energy Navigation 8% Cumulative Redeemable Perpetual Preferred Stock

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S&P Rating  NR   Moodys Rating  NR

Security Ticker Symbol   TNP-B


Market Traded ON   NYSE

Dividend Payment Paid on the 30th of January, April, July and October beginning on 7/30/2013

Quarterly Dividend   .500  Annual Dividend   2.000

Dividend will INCREASE if not redeemed prior to 7/30/2019. The rate would be 1.25 times the initial coupon (meaning on this issue the coupon would go to 10%). The rate will continue to increase by a rate of 1.25 times on each subsequent dividend payment date.  Maximum dividend rate is 30% after 7/30/2015.

Securities may be redeemed, at the issuers option, as early as 07/15/2018 for a redemption price of $25/share plus accrued dividends

Dividend Payment Will Likely be Qualified Distributions

Maturity Date   None
Company Investor Relations Page for Tsakos Energy Navigation

Below you can find the offering Prospectus and Final Pricing Document


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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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