Tsakos Energy Navigation's Series E Preferred Shares Yield Pushes Past 9%By Preferred Stock Channel Staff, Friday, November 3, 2:33 PM ETIn trading on Friday, 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% mark based on its quarterly dividend (annualized to $2.3125), with shares changing hands as low as $25.65 on the day. This compares to an average yield of 8.27% in the "Oil & Gas Equipment & Services" preferred stock category, according to Preferred Stock Channel. As of last close, TNP.PRE was trading at a 2.96% premium to its liquidation preference amount, versus the average discount of 5.11% in the "Oil & Gas Equipment & Services" category. The chart below shows the one year performance of TNP.PRE shares, versus TNP:
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 :
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Friday trading, Tsakos Energy Navigation Ltd's 9.25% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (NYSE:TNP.PRE) is currently trading flat on the day, while the common shares (NYSE:TNP) are up about 0.8%.
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