EL7.AI
StocksMedium•26 October 2026•
3 min read

TEN Announces $1.00-a-Share January Dividend and Authorizes $150 Million Buyback

Key Facts

1TEN authorized a buyback of common and preferred shares of up to $150 million.
2The company announced a semiannual dividend of $1.00 per share in January 2027.
3TEN said the dividend is 100% higher than its first semiannual dividend on common shares in 2026.
4Common-share dividends totaled about $1.50 per share in 2026.
5TEN’s fleet revenues reached a record $551.4 million in the first half of 2026.

TEN said it will pay $1.00 per share in January 2027, its first semiannual dividend on common shares next year. The company said the amount is 100% higher than its first semiannual dividend on common shares in 2026. It also authorized a buyback of common and preferred shares of up to $150 million. The announcement, issued on October 26, combines an increase in cash returns to shareholders with the option to repurchase shares. The record and payment dates for the dividend will be announced later.

The new dividend follows TEN’s payment of $0.50 per share in February 2026 and $1.00 in July of the same year. The company distributed about $1.50 per common share in total during 2026. The January payment therefore exceeds the first payment of the previous year, according to the company’s comparison of the two semiannual dividends. TEN said in its previous results that total distributions on common and preferred shares since its 2002 listing on the New York Stock Exchange will exceed $1 billion by the end of 2026. The record places the new announcement within a cash distribution policy the company said it has followed since listing.

The new authorization comes as TEN said it held $466 million in cash on June 30, 2026, and that its cash balance continued to rise afterward. The $150 million authorization cap does not mean the company has repurchased shares for that amount; it sets the value of the approved program. The company had reported record fleet revenues of $551.4 million in the first half of 2026, up $161.0 million from the same period in 2025. In results published in September, TEN said geopolitical developments and disruption to tonne-mile demand, alongside favorable market fundamentals, support a healthy tanker market. The company linked those operating conditions, which it described as positive, to its ability to continue rewarding shareholders.

The company is also continuing to execute a wide-ranging newbuilding program; in September, it said the program comprised 26 vessels, seven of which had been delivered by then. On July 28, 2026, TEN took delivery of the Anfield DP, the third in a series of 12 DP2 shuttle tankers under construction at Samsung Heavy Industries. These disclosures show that capital allocation to shareholders is proceeding alongside investment in the fleet. The company had said in its previous results that it intended to announce the first semiannual dividend for 2027 in November 2026. It then announced the dividend amount on October 26, with the record and payment dates to follow.