ATHENS, GREECE--(Marketwired - Jul 11, 2017) - TEN Ltd. ("TEN") (NYSE: TNP) (the "Company"), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of $0.50 per share for its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares") (NYSE: TNPPRB) and approximately $0.5547 per share for its 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares (the "Series C Preferred Shares") (NYSE: TNPPRC).

Each dividend is for the period from the most recent dividend payment date on April 30, 2017 through July 29, 2017.

The dividend on the Series B Preferred Shares will be paid on July 31, 2017 to all holders of record of Series B Preferred Shares as of July 28, 2017. The dividend on the Series C Preferred Shares will be paid on July 31, 2017 to all holders of record of Series C Preferred Shares as of July 26, 2017. Dividends on the Series B and C Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN's board of directors. This is the 17th dividend on the Series B and the 15th dividend on the Series C since their commencement of trading on the New York Stock Exchange.

TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.

ABOUT TSAKOS ENERGY NAVIGATION
 TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN's pro-forma fleet, including two Aframax tankers under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.

COMPANY'S GROWTH TIME-TABLE

#   Vessel Name   Type   Dwt   Delivery   Status   Employment
1  Ulysses  VLCC  300,000  May 2016  Delivered  Yes
2  Elias Tsakos  Aframax  112,700  June 2016  Delivered  Yes
3  Thomas Zafiras  Aframax  112,700  Aug 2016  Delivered  Yes
4  Leontios H  Aframax  112,700  Oct 2016  Delivered  Yes
5  Parthenon TS  Aframax  112,700  Nov 2016  Delivered  Yes
6  Sunray  Panamax LR1  74,200  Aug 2016  Delivered  Yes
7  Sunrise  Panamax LR1  74,200  Sep 2016  Delivered  Yes
8  Maria Energy  LNG  93,616  Oct 2016  Delivered  Yes
9  Hercules I  VLCC  300,000  Jan 2017  Delivered  Yes
10  Marathon TS  Aframax  112,700  Feb 2017  Delivered  Yes
11  Lisboa  DP2 Shuttle  157,000  Mar 2017  Delivered  Yes
12  Sola TS  Aframax  112,700  Apr 2017  Delivered  Yes
13  Oslo TS  Aframax  112,700  May 2017  Delivered  Yes
14   Stavanger TS   Aframax   112,700   Q3 2017   TBD   Yes
15   Bergen TS   Aframax   112,700   Q4 2017   TBD   Yes
                         

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.