Dynagas LNG Partners LP reports developments as a master limited partnership that owns and operates LNG carriers employed on multi-year charters. Its news commonly covers fleet operating results, utilization, quarterly and annual earnings, and updates tied to its six-vessel LNG carrier fleet with aggregate capacity of about 914,000 cubic meters.
Company announcements also include common-unit cash distributions, Series A Cumulative Redeemable Perpetual Preferred Unit distributions, unit repurchase authorizations, annual report filings, and limited-partner meeting results. These items reflect the partnership’s shipping operations, partnership distributions, capital actions, and governance activity.
Dynagas LNG Partners LP has declared a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from February 22 to May 21, 2021. The distribution is payable on May 24, 2021 to preferred unit holders of record as of May 17, 2021. This marks the tenth consecutive cash distribution since these units began trading on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding, and distributions are made quarterly, contingent upon Board approval.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.5625 per Series A Cumulative Redeemable Perpetual Preferred Unit for the period February 12, 2021 to May 11, 2021. This distribution, payable on May 12, 2021, marks the twenty-third consecutive payment since trading began. The Partnership currently has 3,000,000 Series A Preferred Units outstanding and continues to operate a fleet of six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) has secured a new time charter agreement with Equinor ASA for the ice-class LNG carrier Arctic Aurora. This contract, effective September 2021, ensures a seamless transition from the current charter, maintaining continuous employment for the vessel. The charter extends for approximately two years, with anticipated annual gross revenues of around $21.5 million. This agreement highlights Dynagas's strong relationship with Equinor and showcases the operational effectiveness of both the Arctic Aurora and the company's management.
Dynagas LNG Partners LP (NYSE: DLNG) reported financial results for Q4 and the year ended December 31, 2020. The company achieved a net income of $10.6 million, or $0.22 per common unit, marking a 92.7% increase year-over-year. Adjusted EBITDA for the period was $24.4 million, with 100% fleet utilization. Notably, the partnership declared cash distributions of $0.5625 and $0.546875 per unit on its Series A and B Preferred Units, respectively. The company has a robust $1.1 billion contracted revenue backlog, ensuring stability amid challenging market conditions. A new management agreement also reduces technical management fees by 13%.
Dynagas LNG Partners LP (NYSE: DLNG) will announce its fourth quarter financial results for the period ending December 31, 2020, on March 16, 2021, after market close. A conference call is scheduled for March 17, 2021, at 10:00 a.m. ET to discuss these results. Participants can join via various dial-in numbers provided or through a live audio webcast on the company's website. Dynagas operates six LNG carriers, with a total capacity of approximately 914,000 cubic meters. The Partnership encourages interested investors to participate in the upcoming call.
Dynagas LNG Partners LP (NYSE: DLNG) has declared a cash distribution of $0.546875 per unit for its Series B Preferred Units, covering the period from November 22, 2020 to February 21, 2021. This payment will be made on February 22, 2021 to unit holders on record as of February 15, 2021. This marks the ninth consecutive distribution since the Series B units began trading on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding.
Dynagas LNG Partners LP has declared a cash distribution of $0.5625 per unit for its Series A Preferred Units, covering the period from November 12, 2020, to February 11, 2021. This distribution will be payable on February 12, 2021, to holders of record as of February 5, 2021. This marks the 22nd sequential cash distribution since the units began trading on the NYSE. The Partnership currently has 3,000,000 Series A Preferred Units outstanding.
Dynagas LNG Partners LP (NYSE: DLNG) held its Annual General Meeting of Limited Partners on December 15, 2020, in Athens, Greece. Key resolutions approved include the re-election of Levon Dedegian as a Class III Director for a three-year term, and the re-appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as independent auditors for the fiscal year ending December 31, 2020.
Dynagas LNG Partners reported a net income of $10.0 million and adjusted EBITDA of $24.2 million for Q3 2020, achieving 100% fleet utilization. Compared to Q3 2019, net income increased by $14.7 million due to lower interest costs and steady vessel operations. The partnership declared cash distributions of $0.5625 per unit on Series A and $0.546875 on Series B Preferred Units. With a contracted revenue backlog of approximately $1.15 billion, the partnership aims to leverage cash flow for debt reduction and future growth.
Dynagas LNG Partners LP (NYSE: DLNG) announced it will release its third quarter financial results for 2020 on November 12, after market close. A conference call is scheduled for November 13 at 10:00 a.m. ET, where management will discuss these results. Participants can join via dedicated dial-in numbers, with a replay available until November 19. The Partnership operates six LNG carriers with a total capacity of approximately 914,000 cubic meters. More details are available on the company’s website.