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Liquefied natural gas

Dynagas LNG Partners LP Declares Cash Distribution for Series A Preferred Units

Strategic Insights

— 1 min read

Dynagas LNG Partners LP, a leading owner and operator of liquefied natural gas (LNG) carriers, has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (DLNG PR A) for the period from May 12, 2024, to August 11, 2024. This is the 36th sequential cash distribution on the Series A Preferred Units, which have been trading on the New York Stock Exchange (NYSE) since their inception.

The cash distribution will be payable on August 12, 2024, to all preferred unit holders of record as of August 5, 2024. The Partnership's fleet consists of six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters.

Key Takeaways:

  • The Partnership has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (DLNG PR A) for the period from May 12, 2024, to August 11, 2024.
  • This is the 36th sequential cash distribution on the Series A Preferred Units since they began trading on the NYSE.
  • The cash distribution is payable on August 12, 2024, to all preferred unit holders of record as of August 5, 2024.
  • The Partnership's fleet consists of six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters.
  • The Partnership operates six LNG carriers on multi-year charters.
  • The Partnership has 3,000,000 Series A Preferred Units outstanding as of the date of this press release.

Statistics:

  • Cash distribution per unit: $0.5625
  • Total cash distribution for the period: $1,687.5 (calculated by multiplying $0.5625 by 3000000)
  • Number of Series A Preferred Units outstanding: 3,000,000
  • Aggregate carrying capacity of the Partnership's fleet: approximately 914,000 cubic meters
  • Period from May 12, 2024, to August 11, 2024: approximately 90 days
  • Payment date: August 12, 2024

Sources:

  • GLOBE NEWSWIRE, "Dynagas LNG Partners LP Declares Cash Distribution on its Series A Cumulative Redeemable Perpetual Preferred Units", July 22, 2024
  • Dynagas LNG Partners LP, Form 8-K filed with the U.S. Securities and Exchange Commission, July 22, 2024
  • Dynagas LNG Partners LP, website, "About Us" section, accessed July 22, 2024

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