Teekay LNG Partners Declares Common Unit Distribution

Rhea-AI Summary

Teekay LNG Partners L.P. (NYSE:TGP) has announced a cash distribution of $0.25 per common unit for the third quarter of 2020, translating to $1.00 annually. This distribution is set to be paid on November 13, 2020, to unitholders recorded by November 2, 2020. Teekay LNG operates 47 LNG carriers and 23 LPG carriers, providing essential shipping services under long-term contracts. The partnership aims to enhance its footprint in the LNG and LPG sectors, further solidifying its position in the market.

Positive

• Declared a cash distribution of $0.25 per common unit for Q3 2020.
• Annualized cash distribution of $1.00 per common unit.
• Strong operational base with 47 LNG carriers and 23 LPG carriers.

Negative

• None.

HAMILTON, Bermuda, Oct. 19, 2020 (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 $0.25 per common unit for the quarter ended September 30, 2020. This corresponds to $1.00 per common unit on an annualized basis.

The cash distribution is payable on November 13, 2020 to all common unitholders of record on November 2, 2020.   Teekay LNG’s common unit distributions are reported on Form 1099 for United States tax purposes.

About Teekay LNG

Teekay LNG Partners 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. Teekay LNG’s ownership interests in these vessels range from 20 to 100 percent. In addition, Teekay LNG owns a 30 percent interest in a regasification terminal. Teekay LNG Partners 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 cash distribution declared by Teekay LNG Partners for Q3 2020?

Teekay LNG Partners has declared a cash distribution of $0.25 per common unit for the quarter ended September 30, 2020.

When is the cash distribution for Teekay LNG Partners payable?

The cash distribution is payable on November 13, 2020.

What is the annualized cash distribution per common unit for Teekay LNG Partners?

The annualized cash distribution is $1.00 per common unit.

On what date will unitholders be recorded for the cash distribution?

Unitholders will be recorded by November 2, 2020.

What type of services does Teekay LNG Partners provide?

Teekay LNG Partners provides LNG and LPG shipping services primarily under long-term, fee-based charter contracts.