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Tsakos Energy Navigation's Series E Preferred Shares Cross 9.5% Yield Mark

By Preferred Stock Channel Staff, Monday, November 21, 2:24 PM ET

In trading on Monday, shares of Tsakos Energy Navigation Ltd's 9.25% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (NYSE:TNP.PRE) were yielding above the 9.5% mark based on its quarterly dividend (annualized to $2.3125), with shares changing hands as low as $23.82 on the day. This compares to an average yield of 8.95% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, TNP.PRE was trading at a 1.96% discount to its liquidation preference amount, versus the average discount of 3.62% in the "Energy" category.

The chart below shows the one year performance of TNP.PRE shares, versus TNP:

Performance Comparison Chart

Below is a dividend history chart for TNP.PRE, showing historical dividend payments on Tsakos Energy Navigation Ltd's 9.25% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares :


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In Monday trading, Tsakos Energy Navigation Ltd's 9.25% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (NYSE:TNP.PRE) is currently down about 0.3% on the day, while the common shares (NYSE:TNP) are up about 2.4%.


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