Dynagas LNG Partners LP Announces Series A Distribution Details
Dynagas LNG Partners LP Confirms Series A Cash Distribution
ATHENS, Greece — Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), a prominent owner and operator of LNG carriers, has shared notable news regarding its financial performance. The Board of Directors has officially declared a cash distribution of $0.5625 per unit for its Series A Cumulative Redeemable Perpetual Preferred Units (NYSE: DLNG PR A). This dividend will cover the period extending from February 12 to May 11.
Unit holders can expect to receive their cash distribution on May 12, reflecting the commitment of the Partnership to deliver consistent returns to its investors. To qualify for this distribution, all preferred unit holders must be on record by May 5.
Distribution Schedule for Preferred Units
Distributions for the Series A Preferred Units are streamlined and predictable, being paid quarterly in arrears. Payments typically occur on the 12th of February, May, August, and November, unless the day coincides with a weekend or public holiday— in which case, they will be moved to the next business day. This declaration marks the thirty-ninth sequential cash distribution on these preferred units since they commenced trading on the NYSE, a testament to the Partnership's robust financial management.
Fleet Overview of Dynagas LNG Partners LP
The Partnership proudly operates a fleet of six LNG carriers. Together, these vessels boast an aggregate carrying capacity of approximately 914,000 cubic meters. The vessels are critically engaged in long-term charters, which helps ensure a stable revenue stream. This operational strategy underscores the Partnership's commitment to maintaining a strong market position within the LNG shipping sector.
Overview of Dynagas LNG Partners LP
Dynagas LNG Partners LP (NYSE: DLNG) operates as a master limited partnership, ideally positioned to capitalize on the growing demand for liquefied natural gas. This industry trend reflects a broader shift towards cleaner energy alternatives, which enhances the long-term viability of LNG carriers. The Partnership's business model is designed to leverage its fleet’s capacity while effectively managing operational costs and optimizing charter agreements.
Contact Information:
Dynagas LNG Partners LP
Attention: Michael Gregos
Tel. +30 210 8917960
Email: management@dynagaspartners.com
Investor Relations/Financial Media:
Nicolas Bornozis/Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
Email: dynagas@capitallink.com
Frequently Asked Questions
What is the cash distribution amount for Series A Preferred Units?
The cash distribution declared is $0.5625 per unit for the Series A Preferred Units.
When is the distribution payable?
The distribution is payable on May 12 to holders of record as of May 5.
How often are distributions made?
Distributions on the Series A Preferred Units are paid quarterly in arrears, occurring in February, May, August, and November.
How many Series A Preferred Units are outstanding?
Currently, there are 3,000,000 Series A Preferred Units outstanding.
What is the significance of the thirty-ninth distribution?
This distribution marks the thirty-ninth successful cash distribution for the Series A Preferred Units since their trading began on the NYSE.
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