Tsakos Energy Navigation 9.50% Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares
By: Tim McPartland,
Date Issued 6/20/2018
Shares Issued 5,400,000 Overallotment Shares 810,000
S&P Rating NR Moodys Rating NR
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Security Ticker Symbol TNP-F OTC Grey Market TSSKF
Market Traded ON NYSE
Dividend Payment Paid on the 30th of January, April, July and October beginning on 10/30/2018
Quarterly Dividend .5938 Annual Dividend 2.375
Securities may be redeemed, at the issuers option, as early as 07/30/2028 the call price is $25 plus accrued dividends
Beginning 7/30/2028 the coupon will float at the rate of 3 month Libor plus a spread of 6.54%
Dividend Payment will be Qualified Distributions.
Maturity Date None
Click Here for the prospectus for this offering
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Tim McPartland
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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.
