ATHENS, GREECE--(Marketwired - Aug 10, 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 $0.546875 per share for its 8.75% Series D Cumulative Perpetual Preferred Shares (the "Series D Preferred Shares") (NYSE: TNPPRD) and a cash dividend of $0.578125 per share for its 9.25% Series E Cumulative Perpetual Preferred Shares (the "Series E Preferred Shares") (NYSE: TNPPRE).

The dividend on the Series D and Series E is for the period from the most recent dividend payment date on May 28, 2017 through August 27, 2017. 

The dividend on the Series D and E Preferred Shares will be paid on August 28, 2017 to all holders of record of Series D and E Preferred Shares as of August 23, 2017. Dividends on the Series D and E Preferred Shares are payable quarterly in arrears on the 28th day (unless the 28th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by TEN's board of directors. This is the ninth dividend on the Series D and the second dividend on the Series E since their commencement of trading on the New York Stock Exchange.

TEN has 3,424,803 Series D and 4,600,000 Series E 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 one Aframax tanker 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   LT Contracts
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  July 2017  Delivered  Yes
15   Bergen TS   Aframax   112,700   Q3 2017   TBD   Yes

LT: Long-Term

Visit our company website at:http://www.tenn.gr

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.