September 29, 2009 (FinancialWire) — Tsakos Energy Navigation Ltd. (NYSE: TNP) said its board of directors has declared the company’s initial cash dividend for the fiscal year 2009 of $0.30 per common share, payable October 29th, 2009 to stockholders of record on October 22nd, 2009. The ex-dividend date will be October 20th, 2009. The current declaration represents the fifteenth consecutive semi-annual distribution since listing on the NYSE in the spring of 2002.

TEN intends to continue to pay cash dividends representing between one-quarter and one-half of ordinary net income. Such payments are subject to the discretion of the board of directors and depend on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, capital commitments, future prospects for earnings and cash flows, as well as other relevant factors. The company pays a semi-annual dividend for a given fiscal year in October and April of the following year.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.