Cash flow in 3Q17
Tsakos Energy Navigation’s (TNP) operating cash flow for 3Q17 was $28.6 million—compared to $58.4 million in the previous quarter and $44.8 million in 3Q16. The operating cash flow shows the amount that a company generated through its normal business operations.
The company 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 December 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 in March 2002, Tsakos Energy Navigation has paid a dividend of $10.61 per share. The average dividend yield since its inception is 5.3%.
Since Tsakos Energy Navigation follows a fixed dividend policy, its dividends are very predictable and stable. However, it doesn’t have the highest dividend yield. As of November 6, 2017, its dividend yield was almost 4.98%. Below are the dividend yields for other crude tanker companies.
Cash and debt
Tsakos Energy Navigation’s cash balance as of September 30, 2017, was $225.9. As we discussed earlier, Tsakos Energy Navigation’s newbuild program has been completed. As a result, it doesn’t expect any debt to be drawn in the foreseeable future. Tsakos Energy Navigation expects its debt and finance cost to fall more. At the end of 3Q17, its net debt-to-capital was at 51.5%.