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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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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