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

Rhea-AI Summary

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.

Positive

• Consistent quarterly cash distribution maintained for Series A Preferred Units
• 36th consecutive distribution indicates stability in preferred unit payments
• 3,000,000 Series A Preferred Units outstanding, showing investor interest

Negative

• None.

ATHENS, Greece, July 22, 2024 (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 May 12, 2024 to August 11, 2024.

The cash distribution is payable on August 12, 2024 to all preferred unit holders of record as of August 5, 2024.

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-sixth 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 cash distribution amount for Dynagas LNG Partners LP's Series A Preferred Units?

Dynagas LNG Partners LP has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units.

When is the payment date for DLNG's Series A Preferred Units distribution?

The cash distribution is payable on August 12, 2024 to all preferred unit holders of record as of August 5, 2024.

How many consecutive distributions has Dynagas LNG Partners LP (DLNG) made on its Series A Preferred Units?

This is the 36th sequential cash distribution on the Series A Preferred Units since they began trading on the NYSE.

How many Series A Preferred Units does Dynagas LNG Partners LP (DLNG) have outstanding?

As of the date of the press release, Dynagas LNG Partners LP has 3,000,000 Series A Preferred Units outstanding.