Tsakos Energy Navigation Announces Quarterly Dividend

Tsakos Energy Navigation Ltd. yesterday announced that its Board of Directors has declared a quarterly dividend of $0.15 per share of common stock outstanding payable on February 1, 2011 to shareholders of record on January 25, 2011. The stock will trade ex-dividend on January 21, 2011.

Including the above distribution, TEN will have distributed $8.625 per share in dividends to its shareholders since the Company was listed on the NYSE in March of 2002. The listing price was $7.50 per share taking into account the 2-1 share split of November 14, 2007.
To date, TEN's pro forma fleet consists of 52 double-hull vessels of 5.4 million dwt that includes two suezmax tankers currently under construction totalling 316,000 dwt to be delivered in 2011 and two Suezmax DP2 tankers for delivery in 2012. TEN's balanced fleet profile is reflected in 25 crude tankers ranging from VLCCs to aframaxes and 26 product carriers ranging from aframaxes to handysize and one LNG carrier.