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

Rhea-AI Summary

Teekay LNG Partners L.P. (NYSE:TGP) has announced cash distributions for its preferred units, declaring $0.5625 per unit for Series A and $0.5313 per unit for Series B. These distributions pertain to the period from October 1 to December 31, 2020, and will be paid on January 15, 2021, to unitholders of record as of December 31, 2020. Teekay LNG is one of the largest independent owners of LNG carriers, with significant interests in 47 LNG carriers, 23 mid-size LPG carriers, and other assets. The cash distributions will be reported on Form 1099 for U.S. tax purposes.

Positive

• Cash distributions declared for preferred units, enhancing income for investors.
• Stable distributions of $0.5625 and $0.5313 demonstrate financial reliability.

Negative

• None.

HAMILTON, Bermuda, Dec. 18, 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 October 1, 2020 to December 31, 2020. The cash distributions are payable on January 15, 2021 to all unitholders of record as at December 31, 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 are the cash distributions declared by Teekay LNG Partners for TGP?

Teekay LNG Partners declared cash distributions of $0.5625 per unit for Series A preferred units and $0.5313 per unit for Series B preferred units.

When will Teekay LNG Partners distribute cash to unitholders?

Cash distributions are payable on January 15, 2021, to unitholders of record as of December 31, 2020.

Over which period do the cash distributions from Teekay LNG apply?

The cash distributions apply to the period from October 1, 2020, to December 31, 2020.

How does Teekay LNG report its preferred unit distributions for U.S. tax purposes?

Teekay LNG's preferred unit distributions are reported on Form 1099 for United States tax purposes.