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Dynagas LNG Partners LP (NYSE: DLNG) is a global leader in the seaborne transportation of liquefied natural gas (LNG). Established in 2013 and headquartered in Athens, Greece, the company operates through its subsidiaries and boasts a fleet of six LNG carriers as of April 16, 2020.
Dynagas LNG Partners LP specializes in owning and managing high-specification, versatile LNG carriers that are engaged in multi-year contracts with international energy firms. These long-term charters, defined as contracts lasting two years or more, ensure stable cash flows and high utilization rates. The company's fleet is designed for flexible trading, capable of conventional trade and operations in extreme conditions due to its Ice Class 1A FS notation and winterization, which allows for navigation in subzero and ice-bound environments.
Recent Achievements:
- Successful operation of a state-of-the-art fleet optimized for various trading conditions.
- Maintaining strong relationships with prominent international energy companies through long-term contracts.
- Providing reliable and efficient LNG transportation solutions.
Current Projects:
- Continuing to enhance fleet capabilities for both conventional and extreme weather operations.
- Expanding contractual agreements with global energy firms to ensure long-term revenue stability.
Financial Condition:
The company is committed to maintaining a robust financial position, underpinned by stable cash flows from its long-term charters. The financial results for the fourth quarter ended December 31, 2023, will be released on March 28, 2024.
For more information and updates, the company's management team regularly hosts conference calls and webcasts, with the next session scheduled for September 15, 2023, at 10:00 a.m. Eastern Time.
Contact Investor Relations at Capital Link, Inc.:
Nicolas Bornozis/Markella Kara
230 Park Avenue, Suite 1540
New York, NY 10169
Tel: (212) 661-7566
Email: dynagas@capitallink.com
Dynagas LNG Partners LP (NYSE: DLNG), a liquefied natural gas carriers operator, held its Annual Meeting of Partners on November 29, 2024, in Athens, Greece. The meeting resulted in two key approvals: the re-election of Evangelos Vlahoulis as a Class I Director for a three-year term until 2027, and the ratification of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the Partnership's independent auditors for fiscal year 2024.
Dynagas LNG Partners LP reported strong financial results for Q3 2024, with Net Income of $15.1 million and earnings per unit of $0.32. The company achieved 100% fleet utilization and Adjusted EBITDA of $28.9 million. All six LNG carriers operate under long-term charters with an average remaining term of 6.2 years, representing a contract backlog of approximately $1.01 billion. The Partnership announced two significant developments: the reinstatement of quarterly cash distributions to common unitholders and authorization of a $10 million common unit repurchase program over the next 12 months. The company maintains strong operations despite ongoing Russian sanctions, with no material impact on business operations.
Dynagas LNG Partners (NYSE: DLNG) has announced it will release its third quarter 2024 financial results before market opens in New York on Friday, November 22, 2024. The company will not hold a conference call for the three- and nine-months results ended September 30, 2024. Instead, stakeholders are encouraged to submit questions about financial performance directly. A presentation of the Q3 results will be available on the company's website in the Investor Relations section.
Dynagas LNG Partners LP (NYSE: DLNG) has announced a quarterly cash distribution of $0.69999031 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units for the period from August 22, 2024, to November 21, 2024. The distribution rate for this period is 10.956370%, comprising a Credit Adjusted Three-Month CME Term SOFR of 5.36337% plus a spread of 5.593%. The payment will be made on November 22, 2024, to unitholders of record as of November 15, 2024. The Partnership currently has 2,200,000 Series B Preferred Units outstanding.
Dynagas LNG Partners LP (NYSE: DLNG) has announced its 2024 Annual Meeting of Partners scheduled for November 29, 2024 at 4:00 p.m. local time in Athens, Greece. The Board has set October 21, 2024 as the Record Date for determining Partners eligible to vote. The Meeting Notice and Proxy Statement will be distributed around October 25, 2024 to record holders and will be available on the SEC website and the company's website along with the 2023 Annual Report.
Dynagas LNG Partners LP (NYSE: DLNG), an LNG carrier owner and operator, has announced a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (NYSE: DLNG PR A). This distribution covers the period from August 12, 2024 to November 11, 2024 and is payable on November 12, 2024 to unitholders of record as of November 5, 2024.
The distribution marks the thirty-seventh sequential payment on the Series A Preferred Units since their NYSE listing. Dynagas LNG Partners currently has 3,000,000 Series A Preferred Units outstanding. Distributions are typically paid quarterly on the 12th of February, May, August, and November, subject to Board of Directors' declaration.
Dynagas LNG Partners LP (NYSE: DLNG) reported strong financial results for Q2 2024 and H1 2024. Key highlights include:
- Q2 Net Income: $10.7 million ($0.20 per unit)
- Q2 Adjusted EBITDA: $28.6 million
- H1 Net Income: $22.5 million ($0.43 per unit)
- H1 Adjusted EBITDA: $57.6 million
- 100% fleet utilization
The company secured $345 million in lease financing for four LNG carriers, used to prepay a $675 million credit facility. All six LNG carriers are under long-term charters with an average remaining term of 6.4 years. The estimated contract backlog is $1.04 billion. Dynagas reports no material impact from current Russian sanctions on its operations or counterparties.
Dynagas LNG Partners LP (NYSE: DLNG), an LNG carrier owner and operator, has announced the release date for its Q2 and H1 2024 financial results. The results will be disclosed before market opens on September 10, 2024. On the same day at 10:00 a.m. Eastern Time, the company's management will host a conference call and webcast to discuss the earnings.
Participants can join the call by dialing 877-405-1226 (US) or +1 201-689-7823 (International), quoting 'Dynagas' or the conference ID 13748719. A 'call me' option is also available for faster connection. The webcast and accompanying slides will be accessible on the company's website, with the PDF presentation available 10 minutes before the call.
Dynagas LNG Partners LP (NYSE: DLNG), an LNG carrier owner and operator, has announced a cash distribution of $0.714537806 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (NYSE: DLNG PR B). This distribution covers the period from May 22, 2024, to August 21, 2024. The distribution rate for this period is 11.184070%, calculated as the sum of the applicable Credit Adjusted Three-Month CME Term SOFR (5.591070%) plus a spread of 5.593%.
The cash distribution will be payable on August 22, 2024, to Series B Preferred Unitholders of record as of August 15, 2024. This marks the twenty-third sequential cash distribution on the Series B Preferred Units since their NYSE listing. Currently, Dynagas LNG Partners LP has 2,200,000 Series B Preferred Units outstanding.
Dynagas LNG Partners LP (NYSE: DLNG), an LNG carrier owner and operator, has announced a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (NYSE: DLNG PR A). This distribution covers the period from May 12, 2024 to August 11, 2024 and is payable on August 12, 2024 to unitholders of record as of August 5, 2024. This marks the 36th consecutive quarterly distribution on the Series A Preferred Units since their NYSE listing. The Partnership currently has 3,000,000 Series A Preferred Units outstanding.
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