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

Rhea-AI Summary

Teekay GP LLC has announced cash distributions for its preferred units for the period from April 1 to June 30, 2021. Holders of Series A preferred units (TGP-PA) will receive $0.5625 per unit, while Series B preferred units (TGP-PB) will receive $0.5313 per unit. Payments will be made on July 15, 2021, to unitholders of record by June 30, 2021. Teekay LNG is a major player in the LNG and LPG shipping sectors, operating a fleet of 47 LNG carriers and more, primarily through long-term contracts.

Positive

• Declared cash distributions of $0.5625 for TGP-PA and $0.5313 for TGP-PB.

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• None.

HAMILTON, Bermuda, June 18, 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 April 1, 2021 to June 30, 2021. The cash distributions are payable on July 15, 2021 to all unitholders of record as at June 30, 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, 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 for Teekay LNG's Series A preferred units (TGP-PA)?

Teekay LNG's Series A preferred units (TGP-PA) will receive a cash distribution of $0.5625 per unit.

When will the cash distributions for TGP-PA and TGP-PB be paid?

The cash distributions for TGP-PA and TGP-PB will be paid on July 15, 2021.

What is the cash distribution for Teekay LNG's Series B preferred units (TGP-PB)?

Teekay LNG's Series B preferred units (TGP-PB) will receive a cash distribution of $0.5313 per unit.

What is the record date for the cash distributions of TGP-PA and TGP-PB?

The record date for the cash distributions is June 30, 2021.