Teekay LNG Partners Declares Distributions on Series A and B Preferred Units

Rhea-AI Summary

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (TGP), has announced cash distributions of $0.5625 per unit for Series A preferred units and $0.5313 per unit for Series B preferred units. These distributions pertain to the period from April 1, 2020 to June 30, 2020 and will be paid on July 15, 2020 to unitholders of record as of June 30, 2020. Teekay LNG operates one of the largest fleets of LNG carriers globally, with interests in 47 LNG carriers and other vessels.

Positive

• Declared cash distributions of $0.5625 per unit on Series A preferred units.
• Declared cash distributions of $0.5313 per unit on Series B preferred units.
• Cash distributions are based on long-term, fee-based charter contracts.

Negative

• None.

HAMILTON, Bermuda, June 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 cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units (NYSE:TGP PR A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TGP PR B) for the period from April 1, 2020 to June 30, 2020. The cash distributions are payable on July 15, 2020 to all unitholders of record as at June 30, 2020. 

Teekay LNG’s preferred 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 cash distribution amount for TGP's Series A preferred units?

The cash distribution amount for TGP's Series A preferred units is $0.5625 per unit.

When will TGP distribute cash payments to unitholders?

TGP will distribute cash payments on July 15, 2020.

What period do TGP's announced cash distributions cover?

The cash distributions cover the period from April 1, 2020 to June 30, 2020.

What are the cash distribution amounts for TGP's Series B preferred units?

The cash distribution amount for TGP's Series B preferred units is $0.5313 per unit.

Who is the general partner of Teekay LNG Partners?

The general partner of Teekay LNG Partners is Teekay GP LLC.