Höegh LNG Partners LP Cash Distributions for the Third Quarter 2020

Rhea-AI Summary

Höegh LNG Partners LP (NYSE: HMLP) announced a quarterly cash distribution of $0.44 per common unit for Q3 2020, translating to an annualized rate of $1.76. This distribution will be paid on November 13, 2020, to common unitholders recorded by October 30, 2020. Additionally, a cash distribution of $0.546875 per 8.75% Series A preferred unit will be paid on November 16, 2020, to unitholders recorded by November 9, 2020. The Partnership operates floating storage and regasification units (FSRUs) under long-term charters.

Positive

• Declared quarterly cash distribution of $0.44 per common unit, implying strong cash flow.
• Annualized distribution of $1.76 per common unit indicates commitment to returning capital to unitholders.
• Cash distributions for Series A preferred units also support income for investors.

Negative

• None.

HAMILTON, Bermuda, Oct. 16, 2020 /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 September 30, 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 November 13, 2020 to all common unitholders of record as of the close of the business on October 30, 2020.

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 November 16, 2020 to all 8.75% Series A preferred unitholders of record as of the close of the business on November 9, 2020.

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 8.7 years plus options as of September 30, 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 for Höegh LNG Partners LP for Q3 2020?

Höegh LNG Partners LP has declared a cash distribution of $0.44 per common unit for Q3 2020.

When will the cash distribution for HMLP common units be paid?

The cash distribution for HMLP common units will be paid on November 13, 2020.

What is the annualized cash distribution rate for HMLP?

The annualized cash distribution rate for HMLP is $1.76 per common unit.

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

The cash distribution for HMLP's Series A preferred units is $0.546875 per unit.

When will the preferred unit distributions be paid?

The preferred unit distributions will be paid on November 16, 2020.