Tsakos Energy Navigation 9.25% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares

By: ,

Date Issued  3/29/2017

Shares Issued  4,000,000   Overallotment Shares   600,000

S&P Rating   NR   Moodys  NR


Security Ticker Symbol   TNP-E     OTC Temp Ticker  TNPEP

Market Traded ON   NYSE

Dividend Payment Paid on the 28th of February, May, August  and November beginning on 8/28/2017

Quarterly Dividend   .578   Annual Dividend   2.313

This fixed-to-floating rate issue has a fixed rate until 5/28/27 when the coupon moves to a floating rate that is based upon 3 month Libor plus 6.881% which is adjusted every 3 months.


Securities may be redeemed, at the issuers option, as early as 5/28/2027 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

Click Here to find the offering Prospectus and Final Pricing Document

Tim McPartland

Connect with Tim McPartland

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.
Search Dividend Investor