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ATHENS - TEN Ltd. (NYSE: TEN), a prominent operator in the crude, product, and LNG tanker market, reported the death of Mr. D. John Stavropoulos, its former Chairman, on Tuesday. Mr. Stavropoulos, who passed away at 92, was revered for his extensive experience in the banking industry and his significant contributions to Tsakos Energy Navigation (TEN). The company, currently valued at $469 million, has maintained a strong market presence with an impressive EBITDA of $395 million over the last twelve months, according to InvestingPro data.
Mr. Stavropoulos’s professional journey encompassed a notable 33-year tenure at The First National Bank of Chicago and its parent company, First Chicago Corp., where he served as Executive Vice President and Chief Credit Officer. He earned recognition as one of the earliest recipients of the Certified Financial Analyst designation in the United States. His expertise in economics and finance also led to his appointment by former U.S. President George H.W. Bush as a lifetime member of the Presidential Credit Standards Advisory Committee.
In addition to his banking career, from 1962 to 1968, he imparted his knowledge as a faculty member at Northwestern (NASDAQ:NWE) University, teaching economics and finance. He also maintained a connection with academia through his involvement with the EMEA Alumni Advisory Board of the Kellogg School of Management.
Dr. Nikolaos P. Tsakos, Founder & CEO of TEN, expressed his deep sorrow over the loss of Mr. Stavropoulos, who helmed the company’s board from 1994 to 2014. Dr. Tsakos lauded Mr. Stavropoulos as a mentor and personal friend whose wise counsel and strategic insight played a pivotal role in steering the company’s direction.
TEN, established in 1993 and publicly traded for 32 years, is recognized as one of the earliest and most established public shipping firms globally. Currently trading near its 52-week low of $15.88, the stock offers a significant dividend yield of 11.3% and trades at a modest 0.27 times book value. The company’s fleet includes 74 vessels, which comprise a diverse mix of crude tankers, product tankers, and LNG carriers, aggregating 8.9 million dwt. This includes vessels currently under construction, such as three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers, and five scrubber-fitted LR1 tankers. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers.
The information in this article is based on a press release statement from Tsakos Energy Navigation Ltd (NYSE:TEN).
In other recent news, Tenaris (BIT:TENR) reported its financial results for the fourth quarter of 2024, highlighting a stable performance despite challenging market conditions. The company achieved full-year net sales of $12.5 billion and a net income of $2.1 billion. Despite a 17% year-over-year decline in Q4 sales, Tenaris maintained a positive outlook for 2025, expecting improved margins in the coming quarters. The company reported a strong net cash position of $3.6 billion and an EBITDA of $726 million for Q4, marking a 6% sequential increase. Analysts from JPMorgan and Piper Sandler discussed potential impacts of U.S. tariffs on Tenaris, with expectations of increased domestic prices if tariffs are implemented. Tenaris has also proposed an annual dividend increase of 38% over the previous year. The company’s strategic investments in industrial efficiency and carbon emission reduction are expected to support future performance. Additionally, Tenaris has been recognized for its supply chain integration efforts and continues to expand its presence in deepwater and unconventional projects globally.
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