Tsakos Energy Navigation Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares Crosses Above 9% Yield TerritoryBy Preferred Stock Channel Staff, Wednesday, April 24, 2:06 PM ETIn trading on Wednesday, shares of Tsakos Energy Navigation Ltd's 9.50% Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (NYSE:TNP.PRF) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.375), with shares changing hands as low as $26.34 on the day. This compares to an average yield of 9.66% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, TNP.PRF was trading at a 7.72% premium to its liquidation preference amount, versus the average premium of 2.28% in the "Energy" category. The chart below shows the one year performance of TNP.PRF shares, versus TNP:
Below is a dividend history chart for TNP.PRF, showing historical dividend payments on Tsakos Energy Navigation Ltd's 9.50% Series F 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 Wednesday trading, Tsakos Energy Navigation Ltd's 9.50% Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (NYSE:TNP.PRF) is currently up about 0.2% on the day, while the common shares (NYSE:TNP) are up about 0.8%.
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