Monaco-based Dynagas LNG Partners, an owner and operator of LNG carriers, said on April 24 that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from February 12, 2018 to May 11, 2018.
The cash distribution is payable on May 14, 2018, to all preferred unit holders of record as of May 5, 2018. Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day of February, May, August and November of each year, when, as and if declared by the Board of Directors. This is the eleventh sequential cash distribution on the Series A Preferred Units since they began trading on the NYSE.
The Partnership has 3,000,000 Series A Preferred Units outstanding. Dynagas LNG Partners LP is a growth-oriented master limited partnership formed by Dynagas Holding Ltd, its sponsor, to own and operate liquefied natural gas (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 metres.