TNP - Press Release Announcing Quarterly Dividend

News Release Tsakos Energy Navigation Ltd. January 27, 2012

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$0.15 per share dividend payable 14 February, 2012
Consistent dividend paid since October 2002,
Reaches $9.225 per share in cumulative
distributions
Athens, Greece, 25 January 2012- The Board of Directors of Tsakos
Energy Navigation
Limited (“TEN” or the “Company”) (NYSE:TNP) has declared a
quarterly dividend of $0.15
per share of common stock outstanding. The record date is February
9, the payment date is
February 14 and the shares will trade ex-dividend on February
7.
D. John Stavropoulos, Chairman of the Board, stated, “We are
pleased to continue our
payment of regular dividends commenced in October, 2002. We are
very proud of this record
which including this dividend will result in total cash dividends
of $9.225 per share (adjusted
for the 2-for-1 split in November 2007) compared with the IPO
price in March 2002 of $7.50
per share (also split adjusted).”
Mr. Stavropoulos added, “We have confidence in the resilience of
our strategy and business
model which should continue enabling TEN to take advantage of
market opportunities while
maintaining dividend distributions.”
As of today, the Company has secured charter agreements and
renewals with expected
minimum revenues in excess of $1 billion over the life of these
charters. The Company has 36
out of its 50 vessels under term employment (including the two DP2
shuttle tankers that TEN
expects to take delivery in Q4 2012 and Q1 2013 which are fixed on
15-year time charters).
In accordance with our dividend policy, payments of dividends are
subject to prudent financial
policy and the discretion of the Board of Directors after due
consideration of available cash,
anticipated cash needs, loan agreement restrictions, and future
prospects for earnings and cash
flow as well as other relevant factors.</DIV></BODY></HTML>