On 1/27/14, 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 1/30/14. As a percentage of TNP.PRB's recent share price of $22.82, this dividend works out to approximately 2.19%, so look for shares of TNP.PRB to trade 2.19% lower — all else being equal — when TNP.PRB shares open for trading on 1/27/14. On an annualized basis, the current yield is approximately 8.76%, which compares to an average yield of 6.16% in the "Energy" preferred stock category, according to Preferred Stock Channel.
Tsakos Energy Navigation Ltd.'s 8.00% Series B Cumulative Redeemable Perpetual Goes Ex-Dividend Soon
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