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. (NYSE:TGP), announced cash distributions of $0.5625 per unit for Series A preferred units (NYSE:TGP PR A) and $0.5313 for Series B preferred units (NYSE:TGP PR B) for the period from October 1, 2021, to December 31, 2021. These distributions will be payable on January 18, 2022 to unitholders of record as of December 31, 2021. Teekay LNG operates one of the largest fleets of LNG carriers, engaging in long-term charter contracts.

Positive

• Declared cash distributions of $0.5625 per Series A preferred unit.
• Declared cash distributions of $0.5313 per Series B preferred unit.
• Distributions payable to unitholders on January 18, 2022.

Negative

• None.

HAMILTON, Bermuda, Dec. 17, 2021 (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, 2021 to December 31, 2021. The cash distributions are payable on January 18, 2022 to all unitholders of record as at December 31, 2021.

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, 21 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 an LNG 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 for TGP preferred units?

Teekay GP LLC declared $0.5625 for Series A (TGP PR A) and $0.5313 for Series B (TGP PR B) for Q4 2021.

When will the cash distributions be paid for TGP?

The cash distributions will be payable on January 18, 2022, to unitholders of record as of December 31, 2021.

What is the stock symbol for Teekay LNG Partners?

The stock symbol for Teekay LNG Partners is TGP, with preferred units as TGP PR A and TGP PR B.