GlobeNewswire Inc | Jan 7, 2021 04:05PM EST

January 07, 2021

ATHENS, Greece, Jan. 07, 2021 (GLOBE NEWSWIRE) -- TEN Ltd. (TEN) (NYSE: TNP) (the Company), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares (the Series F Preferred Shares; NYSE: TNPPRF).

Each dividend of the Series F Preferred Shares is for the period from the most recent dividend payment date on October 30, 2020 through January 29, 2021.

The dividend on the Series F Preferred Shares will be paid on February 1, 2021 to all holders of record of Series F Preferred Shares as of January 27, 2021. Dividends on the Series F Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TENs board of directors. This is the 10th dividend on the Series F since their commencement of trading on the New York Stock Exchange.

TEN has 6,000,000 Series F Preferred Shares outstanding as of the date of this press release.

ABOUT TSAKOS ENERGY NAVIGATION TEN, founded in 1993 and celebrating this year 28 years as a public company, is one of the first and most established public shipping companies in the world. TENs diversified energy fleet currently consists of 68 double-hull vessels, including one LNG carrier and one suezmax DP2 shuttle tanker under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.6 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

CompanyTsakos Energy Navigation Ltd. George Saroglou COO +30210 94 07 710 gsaroglou@tenn.gr

Investor Relations / MediaCapital Link, Inc. Nicolas Bornozis Markella Kara +212 661 7566 ten@capitallink.com