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TEN Ltd declares cash dividend

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LNG Industry,

TEN Ltd – a crude, product and LNG tanker operator – has announced that its Board of Directors has declared a cash dividend of US$0.546875 per share for its 8.75% Series D Cumulative Perpetual Preferred Shares for the period from 28 November 2016 through 27 February 2017.

In the statement, the company claims that the dividend will be paid on 28 February 2017 to all holders of record of the Series D Preferred Shares as of the third business day prior to the dividend payment date (23 February 2017).

Dividends on the Series D Preferred Shares will be payable in arrears on the 28th day of February, May, August and November of each year when, as and if declared by the company’s board of directors (unless this day is a weekend or public holiday. In this case, the payment date will be moved to the next business day). This is the seventh dividend on the Series D Preferred Shares.

At the time of the statement’s release, the company had 3 400 000 Series D Preferred Shares outstanding.

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