Höegh LNG Partners LP Cash Distributions for the First Quarter 2021

Rhea-AI Summary

Höegh LNG Partners LP (NYSE: HMLP) announced a quarterly cash distribution of $0.44 per common unit for the quarter ended March 31, 2021, totaling an annualized $1.76 per unit. Payments are scheduled for May 14, 2021, for unitholders recorded as of May 6, 2021. Additionally, a distribution of $0.546875 per 8.75% Series A preferred unit will be paid on May 17, 2021, to holders of record by May 10, 2021. The Partnership focuses on floating storage and regasification units (FSRUs) and has five units with an average remaining contract duration of 8.3 years.

Positive

• Quarterly cash distribution of $0.44 per common unit announced.
• Annualized distribution amounts to $1.76 per unit.
• Stable income from five FSRUs with an average remaining contract duration of 8.3 years.

Negative

• None.

HAMILTON, Bermuda, April 22, 2021 /PRNewswire/ -- Höegh LNG Partners LP (the "Partnership") (NYSE: HMLP) announced today that its board of directors (the "Board") has declared a quarterly cash distribution with respect to the quarter ended March 31, 2021 of $0.44 per unit for the common units. The distribution corresponds to an annualized distribution of $1.76 per unit.

The cash distribution for the common units will be paid on May 14, 2021 to all common unitholders of record as of the close of the business on May 6, 2021.

The Partnership also announced that the Board declared a cash distribution of $0.546875 per 8.75% Series A preferred unit. The cash distribution for the 8.75% Series A preferred units will be paid on May 17, 2021 to all 8.75% Series A preferred unitholders of record as of the close of the business on May 10, 2021.

Höegh LNG Partners LP is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs ticker: HLNG), a leading floating LNG service provider. HMLP's strategy is to own, operate and acquire floating storage and regasification units ("FSRUs") and associated LNG infrastructure assets under long-term charters. It has interests in five FSRUs that have an industry leading average remaining firm contract duration of 8.3 years plus options as of March 31, 2021.

This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that can affect future results are discussed in the registration statement filed by Höegh LNG Partners LP with the U.S. Securities and Exchange Commission (SEC), which is available via the SEC's web site at www.sec.gov. Höegh LNG Partners LP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

Contact:

The IGB Group, Bryan Degnan, +1 (646) 673-9701 / Leon Berman, +1 (212) 477-8438
Knut Johan Arnholdt, VP IR and Strategy, +47 922 59 131 

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SOURCE Hoegh LNG Partners LP

FAQ

What is the cash distribution announced by HMLP for Q1 2021?

HMLP announced a cash distribution of $0.44 per common unit for the quarter ended March 31, 2021.

When will HMLP distribute the cash payment for common units?

The cash distribution for the common units will be paid on May 14, 2021.

What is the Annualized distribution amount for HMLP?

The annualized distribution amounts to $1.76 per common unit.

What is the cash distribution for HMLP's Series A preferred units?

HMLP declared a cash distribution of $0.546875 per 8.75% Series A preferred unit.

When will the payment for HMLP's preferred units be made?

The payment for preferred units will be made on May 17, 2021.