PIRAEUS, GREECE – October 2, 2025 – TEN Ltd. (NYSE: TNP), a leading diversified crude oil, product, and liquefied natural gas (LNG) tanker operator, today announced the declaration of its regular quarterly cash dividend on its Series F Cumulative Redeemable Perpetual Preferred Shares. This consistent payout, marking the 29th consecutive dividend for the Series F shares, underscores the company's robust financial health and its unwavering commitment to providing predictable returns to its preferred shareholders amidst a dynamic global shipping market. The announcement is a key indicator for income-focused investors, signaling stability and reliability from a significant player in the energy transportation sector.

The declaration provides a clear picture of TEN Ltd.'s operational efficiency and disciplined financial management. For investors holding the Series F Preferred Shares (NYSE: TNP-PRF), this means continued income generation, reinforcing the attractiveness of these securities for those seeking steady cash flow. The timely nature of this dividend, declared precisely on October 2, 2025, for a payment on October 30, 2025, further solidifies the company's reputation for honoring its financial obligations to its preferred equity holders.

Dividend Details and Consistent Performance

Specifically, TEN Ltd. declared a regular quarterly cash dividend of approximately $0.59375 per Series F preferred share. This dividend covers the period from July 30, 2025, through October 29, 2025. Shareholders of record as of October 27, 2025, will be eligible to receive this payment, which is scheduled for distribution on October 30, 2025. With approximately 6,747,147 Series F Preferred Shares outstanding, this represents a significant commitment to its preferred equity base.

The consistent declaration of this dividend, now for the 29th time, highlights a well-established pattern of financial stability within TEN Ltd. Since their listing on the New York Stock Exchange, the Series F Preferred Shares have consistently delivered on their 9.5% coupon rate, a testament to the company's ability to generate sufficient and predictable cash flows. This long-standing track record is crucial for investor confidence, especially given the cyclical nature of the shipping industry. The company's press releases, distributed through channels like Stock Titan, GlobeNewswire, and FinancialContent, consistently emphasize this commitment, portraying the dividend as a reflection of TEN Ltd.'s "stable financial performance in the dynamic global shipping market."

The cumulative and perpetual nature of these preferred shares adds another layer of security for investors. In the event of any future financial headwinds that might lead to a temporary suspension of dividends, all missed payments would accrue and must be settled before any distributions can be made to common shareholders. This structural protection makes the Series F shares particularly appealing to conservative, income-seeking investors, shielding them from some of the volatility inherent in the broader market.

Market Implications: Who Wins and Who Loses?

The primary beneficiaries of this dividend declaration are undoubtedly the holders of TEN Ltd.'s (NYSE: TNP-PRF) Series F Cumulative Redeemable Perpetual Preferred Shares. These investors receive a reliable, fixed income stream, which is particularly attractive in an environment where stable returns are highly valued. The 9.5% coupon rate provides a significant yield, and the cumulative feature offers protection against potential future payment deferrals. For these shareholders, the declaration reinforces the investment thesis of predictable income and capital preservation, making their investment a "win."

Conversely, while not directly losing, common shareholders of TEN Ltd. (NYSE: TNP) are positioned lower in the capital structure. Preferred dividends must be paid before any dividends can be distributed to common shareholders. While TEN Ltd. does pay common dividends, the consistent servicing of preferred dividends ensures that a portion of the company's cash flow is always prioritized for preferred equity holders. This is a standard arrangement, but it means that common shareholders bear more operational risk and receive returns only after preferred obligations are met. However, the stability implied by consistent preferred dividend payments can also indirectly benefit common shareholders by signaling overall corporate financial health.

From a company perspective, TEN Ltd. wins by maintaining its reputation as a reliable issuer of preferred stock. This consistency can facilitate future capital raises, should the company choose to issue more preferred shares or other forms of debt, as investors will view it as a trustworthy counterparty. The cost of this "win" is the ongoing financial commitment, but it's a calculated expense to maintain a diversified capital structure and cater to a specific segment of investors. In the broader shipping industry, other companies issuing preferred shares, such as DryShips Inc. (NASDAQ: DRYS) (though now delisted) or other tanker operators like Frontline plc (NYSE: FRO) or Euronav NV (NYSE: EURN), might see their own preferred securities viewed through the lens of TEN Ltd.'s consistent performance, potentially setting a benchmark for reliability in the sector.

Wider Industry Significance and Broader Trends

TEN Ltd.'s latest dividend declaration on its Series F Preferred Shares is more than just a routine financial announcement; it offers insights into the broader health and trends within the global shipping industry. The ability of a major tanker operator like TEN Ltd. to consistently meet its preferred dividend obligations reflects a degree of stability and positive cash flow generation, even as the shipping sector navigates volatile freight rates, geopolitical tensions, and evolving environmental regulations. This consistency suggests that despite the inherent cyclicality, the company maintains a robust operational framework and effective risk management strategies.

This event fits into a broader industry trend where companies with diversified fleets and strong balance sheets are better positioned to weather market fluctuations. TEN Ltd.'s focus on crude oil, product, and LNG tankers provides a degree of insulation compared to operators specializing in a single vessel type. The consistent dividend payment signals that the company is effectively managing its fleet utilization and charter rates, translating operational success into shareholder returns. Potential ripple effects on competitors, particularly those with similar preferred share structures, could be positive; TEN Ltd.'s reliability might bolster investor confidence across the board for well-managed shipping companies, potentially lowering their cost of capital for similar issuances.

Regulatory and policy implications are generally minimal for routine dividend declarations. However, the consistent cash flow that enables such payments is crucial for meeting increasingly stringent environmental regulations, such as those imposed by the International Maritime Organization (IMO) regarding emissions. Companies with stable finances, like TEN Ltd. appears to be, are better equipped to invest in fleet upgrades, new technologies, and alternative fuels necessary to comply with these evolving standards, giving them a competitive edge. Historically, companies that prioritize consistent shareholder returns, even through preferred dividends, often exhibit strong corporate governance and a long-term strategic vision, which are critical for navigating the capital-intensive and globally interconnected shipping market.

What Comes Next: Navigating Future Waters

Looking ahead, the consistent declaration of the Series F Preferred Share dividend by TEN Ltd. (NYSE: TNP) suggests a continued focus on financial prudence and shareholder returns. In the short term, investors can anticipate the regular quarterly payments to continue, providing a predictable income stream. This stability is likely to maintain the appeal of the Series F shares for income-oriented investors, especially in a fluctuating interest rate environment where fixed-income alternatives might offer less attractive yields. The company's ongoing operational performance, particularly its ability to secure favorable charter rates and maintain high fleet utilization, will be critical to sustaining these payments.

In the long term, TEN Ltd. will need to strategically pivot and adapt to the evolving landscape of global energy transportation. This includes navigating the transition to cleaner energy, which could impact demand for traditional crude and product tankers, while potentially boosting demand for LNG carriers. The company's diversified fleet offers some flexibility, but continued investment in modern, fuel-efficient vessels and potentially new energy transportation solutions will be essential. Market opportunities may emerge from increased global energy demand, especially from developing economies, or from shifts in trade routes due to geopolitical factors. Challenges will include managing fuel costs, regulatory compliance, and potential oversupply in certain tanker segments.

Potential scenarios and outcomes for TEN Ltd. include continued steady growth supported by a stable preferred share base, allowing the company to fund strategic expansions or fleet modernizations. Another scenario could involve further deleveraging, strengthening the balance sheet and enhancing overall financial resilience. Investors should watch for any changes in the company's dividend policy for its common shares, which could signal shifts in capital allocation priorities. Furthermore, monitoring global economic indicators, oil demand forecasts, and the supply-demand balance for various tanker segments will provide crucial context for the company's future performance and its ability to sustain its commitments to all shareholders.

Comprehensive Wrap-up and Investor Outlook

TEN Ltd.'s (NYSE: TNP) latest dividend declaration on its Series F Cumulative Redeemable Perpetual Preferred Shares serves as a compelling affirmation of the company's financial stability and its steadfast commitment to its preferred shareholder base. The approximately $0.59375 per share payout, scheduled for October 30, 2025, marks the 29th consecutive dividend, underscoring a reliable income stream that is particularly attractive for income-focused investors. This consistent performance in a cyclical industry highlights TEN Ltd.'s disciplined management and its robust cash flow generation capabilities, which are essential for navigating the complexities of global energy transportation.

Moving forward, the market can view this declaration as a positive signal regarding TEN Ltd.'s operational health and its ability to honor its financial obligations. For preferred shareholders, the key takeaway is the continued predictability and security of their investment, reinforced by the cumulative and perpetual nature of the Series F shares. Common shareholders, while lower in the capital structure, also benefit indirectly from the perception of a financially sound company. The broader significance extends to the shipping industry, where TEN Ltd.'s consistency sets a benchmark for reliability, potentially influencing investor sentiment towards other well-managed operators.

Investors should continue to watch for TEN Ltd.'s quarterly earnings reports for insights into fleet utilization, charter rates, and overall profitability, which are the fundamental drivers behind its ability to sustain these dividends. Monitoring global oil and gas demand, geopolitical developments affecting trade routes, and advancements in environmental regulations will also be crucial for understanding the long-term outlook for the company and the shipping sector. While this dividend declaration is a strong positive, a holistic view encompassing operational performance and macro-economic factors will be key for informed investment decisions in the months to come.

This content is intended for informational purposes only and is not financial advice.