Tsakos Energy Navigation Limited (NYSE:TNP) Plans Dividend Increase – $0.60 Per Share

Tsakos Energy Navigation Limited (NYSE:TNPGet Free Report) announced a Semi-Annual dividend on Thursday, June 20th, Zacks reports. Investors 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 yield of 4.2%. The ex-dividend date is Friday, July 12th. This is a boost from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30.

Tsakos Energy Navigation has increased its dividend 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 Stock Down 0.5 %

Shares of NYSE:TNP opened at $29.28 on Wednesday. Tsakos Energy Navigation has a 1 year low of $16.96 and a 1 year high of $31.48. The company has a market capitalization of $864.05 million, a PE ratio of 5.94 and a beta of -0.15. The business has a fifty day moving average price of $29.06 and a two-hundred day moving average price of $25.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.51.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TNP shares. StockNews.com began coverage on shares of Tsakos Energy Navigation in a report on Wednesday. They set a “hold” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Tsakos Energy Navigation in a report on Wednesday, March 27th.

View Our Latest Research Report on Tsakos Energy Navigation

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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