Höegh LNG Partners LP Cash Distributions for the Fourth Quarter 2020

Rhea-AI Summary

Höegh LNG Partners LP has declared a quarterly cash distribution of $0.44 per unit for common units for the quarter ended December 31, 2020, amounting to an annualized distribution of $1.76 per unit. This will be paid on February 12, 2021 to unitholders of record as of January 29, 2021. Additionally, a cash distribution of $0.546875 per 8.75% Series A preferred unit will be paid on February 16, 2021. The partnership focuses on owning and operating floating storage and regasification units with an average contract duration of 8.5 years.

Positive

• Quarterly cash distribution of $0.44 per common unit announced.
• Annualized distribution amounts to $1.76 per unit.
• Strong average remaining firm contract duration of 8.5 years for FSRUs.

Negative

• None.

HAMILTON, Bermuda, Jan. 14, 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 December 31, 2020 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 February 12, 2021 to all common unitholders of record as of the close of the business on January 29, 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 February 16, 2021 to all 8.75% Series A preferred unitholders of record as of the close of the business on February 08, 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 8.5 years plus options as of December 31, 2020.

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 amount announced by HMLP for the fourth quarter of 2020?

HMLP announced a cash distribution of $0.44 per common unit for the fourth quarter of 2020.

When will HMLP pay its quarterly cash distribution?

The quarterly cash distribution will be paid on February 12, 2021.

What is the annualized distribution for HMLP's common units?

The annualized distribution for HMLP's common units is $1.76 per unit.

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

The cash distribution for HMLP's 8.75% Series A preferred units is $0.546875.

When will HMLP's Series A preferred unit distribution be paid?

The distribution for the Series A preferred units will be paid on February 16, 2021.