Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 22

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 22
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 Anfield, (ii) $141.7 million for the two newly acquired vessels Athens 04and Dr Irene Tsakosand (iii) $114.1 million as part of the refinancing of the two DP2 suezmax tankers Portoand Lisboa,(2) paid in scheduled installments the amount of $93.6 million, (3) prepaid the amount of (i) $10.2 million due to the sale of the suezmax tanker Pentathlonand (ii) $106.5 million due to refinancing of the two DP2 suezmax tankers Portoand Lisboaand (4) paid dividends amounting to $13.5 million.

Proceeds from bank loans in the first half of 2024 amounted to $331.9 million, repayments of debt amounted to $83.7 million, prepayments amounted to $28.2 million and payments of dividends $13.5 million.

Total debt outstanding increased from $1.76 billion at December 31, 2024, to $1.82 billion at June 30, 2025. The debt to capital (equity plus debt) ratio was 48.2% at June 30, 2025 (or 43.6% on a net of cash basis) and 49.9% at December 31, 2024 (or 44.4% on a net of cash basis).

Dividends of $0.5781 per share for the 9.25% Series E Preferred Shares were paid on February 28, 2025 and May 28, 2025, totaling $5.5 million, and on August 28, 2025, $2.7 million. Dividends of $0.59375 per share for the 9.50% Series F Preferred Shares were paid on January 30, 2025 and April 30, 2025, totaling $8.0 million, and on July 30, 2025, $4.0 million.

On March 27, 2025, the Company declared the first semi-annual dividend of $0.60 per common share to shareholders of record as of July 14, 2025, which was paid on July 18, 2025. On March 27, 2024, the Company declared the first semi-annual dividend of $0.60 per common share to shareholders of record as of July 12, 202