Teekay LNG Partners Declares 15 Percent Increase in Common Unit Distribution

Rhea-AI Summary

Teekay LNG Partners L.P. (NYSE:TGP) has announced a cash distribution of $0.2875 per common unit for Q1 2021, marking a 15% increase compared to the previous quarter. This amounts to an annualized distribution of $1.15 per unit. The payment is set for May 14, 2021, to common unitholders on record as of May 5, 2021. Teekay LNG operates a fleet comprising 47 LNG carriers, 23 LPG carriers, and 7 multi-gas carriers, providing services primarily under long-term contracts.

Positive

• Cash distribution increased by 15% to $0.2875 per common unit.
• Annualized distribution amounting to $1.15 per common unit.

Negative

• None.

HAMILTON, Bermuda, April 15, 2021 (GLOBE NEWSWIRE) -- Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared a cash distribution of $0.2875 per common unit for the quarter ended March 31, 2021, representing a 15 percent increase over the previous quarter’s distribution. This corresponds to $1.15 per common unit on an annualized basis.

The cash distribution is payable on May 14, 2021 to all common unitholders of record on May 5, 2021. Teekay LNG’s common unit distributions are reported on Form 1099 for United States tax purposes.

About Teekay LNG

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers. The Partnership’s ownership interests in these vessels range from 20 to 100 percent. In addition, the Partnership owns a 30 percent interest in a regasification terminal. Teekay LNG is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekay.com

 

FAQ

What is the recent cash distribution for Teekay LNG Partners (TGP) as of April 2021?

Teekay LNG Partners announced a cash distribution of $0.2875 per common unit for Q1 2021.

When is the Teekay LNG distribution payment date?

The cash distribution is payable on May 14, 2021.

What is the annualized cash distribution for Teekay LNG (TGP)?

The annualized cash distribution is $1.15 per common unit.

What are the stock symbols for Teekay LNG common and preferred units?

Teekay LNG common units trade under TGP, preferred units under TGP-PA and TGP-PB.

How many LNG carriers does Teekay LNG operate?

Teekay LNG operates 47 LNG carriers.