TEN, Ltd. reports Q2 EPS $1.65 vs. $1.31 last year

Reports Q2 revenue $221.5M vs. $216.7M last year. “Taking advantage of the positive environment in the tanker market the Company has timely monetized a big part of its first-generation tankers and has reinvested the proceeds for new and environmentally friendly vessels, common share dividend distributions and a significant reduction of its preferred shares,” Mr. George Saroglou, President and COO of TEN commented. “The recent appetite from our major clients for accretive long-term business, particularly in the LNG and tanker segments, has given us the comfort to secure over $1.5 billion in forward revenues and ensure continuity in providing healthy returns and increased dividends to our shareholders,” Mr. Saroglou concluded.