Tsakos Energy Navigation: Digging into Its 2Q17 Results

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Part 4
Tsakos Energy Navigation: Digging into Its 2Q17 Results PART 4 OF 6

What’s Tsakos Energy Navigation’s Dividend Yield?

Cash flow in 2Q17

Tsakos Energy Navigation’s (TNP) operating cash flow in 2Q17 was $56.45 million—compared to $54.4 million in the previous quarter and $39.5 million in 2Q16. The operating cash flow shows the amount that a company generated through its normal business operations.

What&#8217;s Tsakos Energy Navigation&#8217;s Dividend Yield?

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Dividend yield

Tsakos Energy Navigation has paid an uninterrupted dividend since its inception. In 2Q17, it declared a quarterly dividend of $0.05 per share. The quarterly dividend will be paid in November 2017. Since 3Q16, the company’s quarterly dividend is $0.05 per share. Before 3Q16, its quarterly dividend was $0.08 per share.

Since its inception, Tsakos Energy Navigation has paid a dividend of $10.56 per share or a total of $453 million. The average dividend yield since its inception is 5.3%.

Since Tsakos Energy Navigation follows a fixed dividend policy, its dividends are very stable and predictable. However, it doesn’t have the highest dividend yield. As of September 18, 2017, its dividend yield was almost 4.4%. Below are the dividend yields for its peers:

  • Teekay Tankers (TNK) – 7.4%
  • Nordic American Tankers (NAT) – 7.5%
  • Navios Maritime Partners (NAP) – 22.5%
  • Euronav (EURN) – 3.5%

Dividend coverage

Tsakos Energy Navigation’s dividend payout for the last 12 months is 21%. The coverage ratio is a measure of a company’s ability to pay future dividends. A higher ratio is generally a healthy sign. A ratio less than 1.0 indicates that the company’s profits are less than its dividends paid. It’s possible that the current level of dividends isn’t sustainable in the long run.


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