Tsakos Energy Navigation 8% Cumulative Redeemable Perpetual Preferred Stock
By: Tim McPartland,
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
