On 10/25/13, Tsakos Energy Navigation Ltd.'s 8.00% Series B Cumulative Redeemable Perpetual (TNP.PRB) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 10/30/13. As a percentage of TNP.PRB's recent share price of $23.59, this dividend works out to approximately 2.12%, so look for shares of TNP.PRB to trade 2.12% lower — all else being equal — when TNP.PRB shares open for trading on 10/25/13. On an annualized basis, the current yield is approximately 8.50%, which compares to an average yield of 6.72% in the "Energy" preferred stock category, according to Preferred Stock Channel.
As of last close, TNP.PRB was trading at a 5.80% discount to its liquidation preference amount, versus the average premium of 7.07% in the "Energy" category. The chart below shows the one year performance of TNP.PRB shares, versus TNP:
Below is a dividend history chart for TNP.PRB, showing historical dividends prior to the most recent $0.50 on Tsakos Energy Navigation Ltd.'s 8.00% Series B Cumulative Redeemable Perpetual :
According to the ETF Finder at ETF Channel, Tsakos Energy Navigation Ltd. (TNP) makes up 4.13% of the Guggenheim Shipping ETF (SEA) which is trading lower by about 0.8% on the day Wednesday.