Dynagas LNG Partners LP declared a cash distribution of $0.677286319 per unit on Series B Preferred Units, payable February 24, 2025.
Quiver AI Summary
Dynagas LNG Partners LP has announced the declaration of a cash distribution of $0.677286319 per unit for its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units, covering the period from November 22, 2024, to February 23, 2025. This distribution, which is based on a rate of 10.375450%, will be paid on February 24, 2025, to unitholders of record by February 14, 2025. This marks the twenty-fifth consecutive distribution since the Series B Preferred Units began trading. The Partnership currently has 2,200,000 of these units outstanding and owns a fleet of six LNG carriers.
Potential Positives
- The Board of Directors declared a cash distribution of $0.677286319 per unit on its Series B Preferred Units, providing a steady income stream for investors.
- This marks the twenty-fifth sequential cash distribution, demonstrating consistency and reliability in the Partnership’s financial performance.
- The distribution rate of 10.375450% reflects strong underlying financial metrics, which can instill investor confidence.
- The cash distribution is payable on February 24, 2025, reinforcing the company’s commitment to timely returns for its investors.
Potential Negatives
- The announcement of a cash distribution may indicate that the company is relying on preferred equity financing rather than generating adequate cash flow from its operations, signaling potential financial instability.
- The reliance on variable payment structures, such as the Credit Adjusted Three-Month CME Term SOFR, could expose the Partnership to interest rate fluctuations, impacting future distributions negatively.
- The cautionary statement regarding forward-looking statements could raise concerns among investors about the Partnership's ability to meet its future financial goals and obligations.
FAQ
What is the cash distribution amount declared by Dynagas LNG Partners?
The cash distribution amount declared is $0.677286319 per unit for the Series B Preferred Units.
When is the distribution payment date for the declared cash distribution?
The distribution payment date is February 24, 2025.
What is the distribution period for the declared cash distribution?
The distribution period is from November 22, 2024 to February 23, 2025.
How often are distributions paid on Series B Preferred Units?
Distributions are payable quarterly in arrears on February, May, August, and November.
How many Series B Preferred Units are currently outstanding?
There are 2,200,000 Series B Preferred Units outstanding as of the press release date.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DLNG Hedge Fund Activity
We have seen 5 institutional investors add shares of $DLNG stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 265,337 shares (+26.1%) to their portfolio in Q3 2024, for an estimated $1,005,627
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- TUCKER ASSET MANAGEMENT LLC removed 19,851 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $75,235
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Full Release
ATHENS, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that its Board of Directors has declared a cash distribution of $0.677286319 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE: DLNG PR B) for the period from and including November 22, 2024 to and including February 23, 2025 (the “Distribution Period”).
The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units. The distribution rate for the Distribution Period was 10.375450% (which is the sum of the applicable Credit Adjusted Three-Month CME Term SOFR of 4.782450% plus a spread of 5.593%).
The cash distribution is payable on February 24, 2025 to all Series B Preferred Unitholders of record as of the close of business on February 14, 2025.
Distributions on the Series B Preferred Units are payable quarterly in arrears on the 22 nd day (unless the 22 nd day falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the twenty-fifth sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.
The Partnership has 2,200,000 Series B Preferred Units outstanding as of the date of this press release.
About Dynagas LNG Partners LP
Dynagas LNG Partners LP (NYSE: DLNG) is a master limited partnership which owns and operates LNG carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic meters.
Visit the Partnership’s website at www.dynagaspartners.com
Contact Information:
Dynagas LNG Partners LP
Attention: Michael Gregos
Tel. +30 210 8917960
Email:
[email protected]
Investor Relations/ Financial Media:
Nicolas Bornozis/Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
E-mail:
[email protected]
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “expected,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnership’s management of historical operating trends, data contained in its records and other data available from third parties. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnership’s control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Partnership’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for Liquefied Natural Gas (LNG) shipping capacity, changes in the Partnership’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Partnership’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Partnership disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.