Golar LNG Partners LP Series A Preferred Cash Distribution

Rhea-AI Summary

Golar LNG Partners LP, a subsidiary of New Fortress Energy (NFE), announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. The distribution covers the period from August 15, 2024, to November 14, 2024, and will be paid on November 15, 2024. Unitholders must be on record by November 8, 2024, to receive the distribution.

Positive

• Regular preferred unit distribution maintained at $0.546875 per unit, indicating stable cash flow management

Negative

• None.

Insights

Financial Analyst

This routine preferred dividend announcement represents a standard quarterly distribution of $0.546875 per Series A unit at an 8.75% annual rate, maintaining the expected distribution schedule. While the distribution demonstrates consistent cash flow management, it's a relatively minor event in terms of NFE's overall financial position, given its $2.15B market cap. These preferred units, inherited through the Golar LNG Partners acquisition, represent a small, fixed obligation that continues as expected. The maintenance of scheduled payments indicates stable liquidity management but doesn't materially impact the company's broader financial outlook or investment thesis.

NEW YORK--(BUSINESS WIRE)-- Golar LNG Partners LP, an indirect subsidiary of New Fortress Energy Inc. (NASDAQ: NFE), has declared a cash distribution of $0.546875 per unit of 8.75% Series A Cumulative Redeemable Preferred Units for the period from August 15, 2024 through November 14, 2024. This will be payable on November 15, 2024 to all Series A preferred unitholders of record as of November 8, 2024.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

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Source: New Fortress Energy Inc.

FAQ

When will NFE's Golar LNG Partners pay its Series A Preferred distribution in 2024?

The Series A Preferred distribution will be paid on November 15, 2024, to unitholders of record as of November 8, 2024.

How much is the Golar LNG Partners Series A Preferred distribution for Q4 2024?

The distribution amount is $0.546875 per unit for the 8.75% Series A Cumulative Redeemable Preferred Units.

What period does NFE's Golar LNG Partners' Q4 2024 preferred distribution cover?

The distribution covers the period from August 15, 2024, through November 14, 2024.