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

Strategic Insights -

Dynagas LNG Partners LP has announced its Board of Directors' decision to declare a cash distribution of $0.714537806 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units for the period from May 22, 2024 to August 21, 2024. This is 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.

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. Distributions on the Series B Preferred Units are payable quarterly in arrears on the 22nd day of February, May, August, and November of each year. The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units.

Key Takeaways:

  • Dynagas LNG Partners LP has declared a cash distribution of $0.714537806 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units for the period from May 22, 2024 to August 21, 2024.
  • 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 has 2,200,000 Series B Preferred Units outstanding as of the date of this press release.
  • This is the twenty-third sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.
  • The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units.

Statistics:

  • Cash distribution: $0.714537806 per unit
  • Distribution period: May 22, 2024 to August 21, 2024
  • Payable date: August 22, 2024
  • Record date: August 15, 2024
  • Number of outstanding Series B Preferred Units: 2,200,000

Sources:

  • "Dynagas LNG Partners LP (DLNG) Declares $0.714537806 Distribution on Series B Preferred Units." GlobeNewswire, no. date.