TEN doubles upcoming dividend and authorizes share repurchase programme

TEN, Ltd. has announced plans to double its first semi-annual common share dividend for 2027 and authorized a share repurchase programme of up to $150 million, following the conclusion of the company’s strategy meeting.

The Athens-based tanker operator, listed on the New York Stock Exchange under the symbol TEN, said it will distribute a dividend of $1.00 per common share in January 2027. The payment represents a 100% increase compared with the corresponding first semi-annual dividend in 2026.

The company has not yet announced the record date or payment date for the upcoming distribution.

Alongside the dividend decision, TEN authorized the repurchase of up to $150 million of its common and preferred shares. The company stated that the timing, purchase prices and number of shares acquired will depend on prevailing market conditions.

The authorization establishes a maximum amount available for potential repurchases and does not indicate that the full amount has already been spent or that purchases will necessarily reach the authorized limit.

The two announcements follow the company’s strategy meeting and concern its arrangements for returning capital to shareholders.

TEN operates a diversified energy shipping fleet, with a pro forma fleet of 80 vessels representing approximately 10.4 million deadweight tonnes, according to the company.