11/20 Wow! Not sure how often this has occurred, but it is rare - TEN not being the last conventional tanker entity to report quarterly results. FRO report tomorrow (11/21), and HAFN have still not reported.
Main points:
- Rev of $186.2M
- Net Income to common shareholders $31.6M
- $1/sh div split between Dec 2025 and Feb 2026 (TEN only pay common twice a year)
- 20 newbuilds to deliver over the next few years, including 10 shuttle tankers on a Petrobras contract.
No TEN position currently (Had a small holding of TEN preferred shares thru Sept 2025)