Dynagas LNG Partners LP Declares Cash Distribution of $0.714537806 per Unit

Strategic Insights -

Dynagas LNG Partners LP, a leading owner and operator of liquefied natural gas (LNG) carriers, has declared a cash distribution of $0.714537806 per unit on its Series B Preferred Units. The cash distribution is for the period from May 22, 2024, to August 21, 2024, and marks the twenty-third sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE. The Partnership has 2,200,000 Series B Preferred Units outstanding as of the date of this press release.

Key Takeaways:

  • Dynagas LNG Partners LP declared a cash distribution of $0.714537806 per unit on its Series B Preferred Units for the period from May 22, 2024, to August 21, 2024.
  • The distribution rate for the period was 11.184070%, calculated by the sum of the applicable Credit Adjusted Three-Month CME Term SOFR of 5.591070% and a spread of 5.593%.
  • The cash distribution is payable on August 22, 2024, to all Series B Preferred Unitholders of record as of the close of business on August 15, 2024.
  • The Partnership's current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic meters.
  • The cash distribution marks the twenty-third sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.

Statistics:

  • Cash distribution per unit: $0.714537806
  • Distribution period: May 22, 2024, to August 21, 2024
  • Distribution rate: 11.184070%
  • Total Series B Preferred Units outstanding: 2,200,000
  • Cutting capacity: approximately 914,000 cubic meters
  • Number of distributions since trading on NYSE: 23

Sources:

  • Dynagas LNG Partners LP [Category: Energy, Oil & Gas Refining & Marketing, Partnerships and Alliances] Copyright 2017 Contify.com