Tsakos Energy Lowered Its Dividend to $0.05 per Share


Dec. 6 2016, Updated 4:05 p.m. ET

Cash flow

Tsakos Energy Navigation’s (TNP) operating cash flow in 3Q16 was $44.8 million—compared to $68.9 million in 3Q15. The operating cash flow tells us the amount a company generated through its normal business operations.

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Dividends and dividend yield

Tsakos has paid an uninterrupted dividend of $10.41 since its listing on the NYSE in March 2002. The company paid a quarterly dividend of $0.06 per share in 2015, which equals a $0.24 yearly dividend. In 2016, the company raised its dividends to $0.08 per share—a 33% increase. However, it lowered the dividends to $0.05 per share. The dividend of $0.05 per share will be paid on December 22, 2016.

Tsakos Navigation isn’t one of the highest dividend yield companies among its peers. As of December 5, 2016, its dividend yield was almost 4.3%. The dividend yields for its peers are as follows

  • Nordic American Tankers (NAT) has a dividend yield of 11.9%.
  • Teekay Tankers (TNK) has a dividend yield of 4.9%.
  • Navios Maritime Partners (NAP) has a dividend yield of 15.8%.
  • DHT Holdings (DHT) has a dividend yield of 2.2%.

If you’re interested in broad exposure to the industrials sector, you might consider investing in the SPDR Dow Jones Industrial Average ETF (DIA).

Share buyback

Previously, Tsakos announced a share repurchase program of $22 million. The company has repurchased stock worth $103 million since 2005—the buyback started with ~$21 million in 2016.


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