ATHENS, GREECE--(Marketwired - Jul 17, 2013) - Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP) (NYSE: TNPPRB), a leading product, crude and LNG tanker operator, today announced that its Board of Directors declared a cash dividend of $0.44444 per share of its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares"; NYSE; TNPPRB) for the period from the original issuance of the Series B Preferred Shares on May 10, 2013 through July 29, 2013. The dividend will be paid on July 30, 2013 to all holders of record of Series B Preferred Shares as of July 29, 2013.

TEN has 2,000,000 Series B Preferred Shares outstanding as of today. This is the first cash dividend TEN has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on May 13, 2013.

ABOUT TSAKOS ENERGY NAVIGATION
To date, TEN's fleet, including an LNG carrier under construction, consists of 49 double-hull vessels, totaling 4.9 million dwt, including 28 product carriers ranging from shuttle suezmaxes to handysize, 19 crude tankers ranging from VLCCs to aframaxes and two LNG carriers, plus an option for an additional newbuilding.

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.