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, today 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 of May 28, 2022 through August 27, 2022.

The dividend on the Series D and E Preferred Shares will be paid on August 29, 2022 to all holders of record of Series D and E Preferred Shares as of August 24, 2022. 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 29th dividend on the Series D and the 22nd dividend on the Series E since their commencement of trading on the New York Stock Exchange.

TEN has 3,517,061 Series D and 4,745,947 Series E Preferred Shares outstanding as of the date of this press release.