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Tsakos Energy Navigation 8.875% Cumulative Redeemable Perpetual Preferred Stock

By: ,

S&P Rating   NR   Moodys  NR

Security Ticker Symbol   TNP-C

Market Traded ON   NYSE

Dividend Payment Paid on the 30th of January, April, July and October beginning on 1/30/2014

Quarterly Dividend   .555   Annual Dividend   2.219

Dividend will INCREASE if not redeemed prior to 10/30/2020. The rate would be 1.25 times the initial coupon (meaning on this issue the coupon would go to 11.09%). 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 10/30/2018 for a redemption price of $25/share plus accrued dividends

Dividend Payment Likely Will be a 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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