Tsakos Energy Navigation Limited (NYSE:TNP) Increases Dividend to $0.60 Per Share

Tsakos Energy Navigation Limited (NYSE:TNPGet Free Report) announced a Semi-Annual dividend on Thursday, June 20th, Zacks reports. Stockholders of record on Friday, July 12th will be paid a dividend of 0.60 per share by the shipping company on Thursday, July 18th. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, July 12th. This is an increase from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30.

Tsakos Energy Navigation has raised its dividend payment by an average of 68.7% annually over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tsakos Energy Navigation to earn $9.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 12.1%.

Tsakos Energy Navigation Price Performance

The stock has a 50 day simple moving average of $29.15 and a two-hundred day simple moving average of $26.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.51 and a current ratio of 1.58. Tsakos Energy Navigation has a 52-week low of $16.96 and a 52-week high of $31.48. The stock has a market cap of $864.05 million, a PE ratio of 5.94 and a beta of -0.15.

Analyst Ratings Changes

Several brokerages have weighed in on TNP. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 price objective on shares of Tsakos Energy Navigation in a research report on Wednesday, March 27th. StockNews.com began coverage on shares of Tsakos Energy Navigation in a report on Wednesday. They set a “hold” rating for the company.

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About Tsakos Energy Navigation

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Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.

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Dividend History for Tsakos Energy Navigation (NYSE:TNP)

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