Dynagas LNG Partners LP Declares Cash Distribution on Its Series A Preferred Units

Rhea-AI Summary

Dynagas LNG Partners LP (NYSE: DLNG) has announced a quarterly cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from November 12, 2024, to February 11, 2025. The distribution will be paid on February 12, 2025, to holders of record as of February 5, 2025.

This marks the 38th 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. These distributions are paid quarterly in February, May, August, and November, subject to Board approval.

Positive

• Maintains consistent quarterly dividend payments, demonstrating financial stability
• 38th consecutive distribution indicates strong track record of shareholder returns

Negative

• None.

Insights

Financial Analyst

Dynagas LNG Partners LP has announced its quarterly distribution of $0.5625 per unit on its Series A Preferred Units, maintaining its consistent track record with its 38th sequential payment. With 3 million preferred units outstanding, this amounts to a total quarterly distribution of $1.6875 million.

Preferred units, similar to preferred stocks, offer investors a higher claim on assets and earnings than common units. These distributions must be paid before any distributions to common unit holders, making them a more secure but generally fixed-income investment. The 9% annual yield (based on the $25 par value) provides steady income for preferred unit holders, though without the potential upside of common units.

The consistent payment of preferred distributions is particularly noteworthy in the LNG shipping sector, which can be volatile due to fluctuating charter rates and energy market conditions. This reliability in meeting preferred obligations suggests stable cash flows from Dynagas's LNG carrier operations and sound financial management. However, it's important to note that this is a routine announcement and primarily relevant to preferred unit holders rather than common unit investors.

01/22/2025 - 04:05 PM

ATHENS, Greece, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: “DLNG”), an owner and operator of LNG carriers, today announced that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (the “Series A Preferred Units”) (NYSE: DLNG PR A) for the period from November 12, 2024 to February 11, 2025.

The cash distribution is payable on February 12, 2025 to all preferred unit holders of record as of February 5, 2025.

Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12^th day (unless the 12^th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the thirty-eighth sequential cash distribution on the Series A Preferred Units since they began trading on the NYSE.

The Partnership has 3,000,000 Series A Preferred Units outstanding as of the date of this press release.

About Dynagas LNG Partners LP
Dynagas LNG Partners LP. (NYSE: DLNG) is a master limited partnership which owns and operates liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic meters. Visit the Partnership’s website at www.dynagaspartners.com  

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
E-mail: dynagas@capitallink.com

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “expected,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnership’s management of historical operating trends, data contained in its records and other data available from third parties. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnership’s control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Partnership’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for Liquefied Natural Gas (LNG) shipping capacity, changes in the Partnership’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Partnership’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Partnership disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

FAQ

What is the dividend amount for DLNG Series A Preferred Units in February 2025?

Dynagas LNG Partners LP will pay a cash distribution of $0.5625 per Series A Preferred Unit on February 12, 2025.

When is the record date for DLNG's February 2025 preferred dividend?

The record date for DLNG's Series A Preferred Units distribution is February 5, 2025.

How many Series A Preferred Units does DLNG have outstanding?

Dynagas LNG Partners LP has 3,000,000 Series A Preferred Units outstanding.

How many consecutive quarterly distributions has DLNG made on its Series A Preferred Units?

DLNG has made 38 sequential quarterly cash distributions on its Series A Preferred Units since they began trading on the NYSE.

What is the distribution schedule for DLNG's Series A Preferred Units?

Distributions are paid quarterly in arrears on the 12th day of February, May, August, and November, subject to Board approval.