TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares

TEN Ltd., a leading diversified crude, product and LNG tanker operator, announced that its Board of Directors declared the regular quarterly cash dividend of $0.546875 per share for its Series D Cumulative Perpetual Preferred Shares (the “Series D Preferred Shares”; NYSE; TNPPRD) and the regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TNPPRE).

The dividend on the Series D and Series E is for the period from the most recent dividend payment date on May 28, 2021 through August 27, 2021.

The dividend on the Series D and E Preferred Shares will be paid on August 30, 2021 to all holders of record of Series D and E Preferred Shares as of August 25, 2021. Dividends on the Series D and E Preferred Shares are payable quarterly in arrears on the 28th day (unless the 28th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by TEN’s board of directors. This is the 25th dividend on the Series D and the 18th dividend on the Series E since their commencement of trading on the New York Stock Exchange.

TEN has 3,484,979 Series D and 4,701,377 Series E Preferred Shares outstanding as of the date of this press release.