Tsakos Energy Navigation Q1 Profit Surges

(RTTNews) - Tsakos Energy Navigation Limited (TNP) said that its net income attributable to the company for the first quarter 2014 surged to $14.6 million or $0.19 per share from $1.0 million or $0.02 per share in the first quarter of 2013.

Voyage revenues for the quarter grew to $130.29 million from the prior year's $97.69 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.10 per share and revenues of $87.87 million for the quarter. Analysts' estimates typically exclude special items.

As previously indicated, the company will pay a dividend of $0.05 per common share on May 22, 2014 to shareholders of record as of May 19, 2014.

The company's Board has also declared an additional dividend of $0.05 per share of common stock outstanding to be paid on August 14, 2014 to shareholders of record as of August 11, 2014.