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 (NYSE: DLNG) has scheduled its 2020 Annual General Meeting of Limited Partners for December 15, 2020, at 4:00 p.m. local time in Athens, Greece. A record date of October 23, 2020, has been set to determine which Limited Partners are eligible to vote. The Partnership's Notice of Meeting and Proxy Statement will be mailed around November 3, 2020, and made available on the SEC's website. The press release includes forward-looking statements regarding potential business performance and risks involving market conditions, regulatory changes, and the impact of COVID-19.
Dynagas LNG Partners LP (NYSE: DLNG) has announced a cash distribution of $0.546875 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units for the period from August 22, 2020 to November 21, 2020. This distribution will be payable on November 23, 2020 to preferred unit holders of record as of November 16, 2020. This marks the eighth consecutive cash distribution since the preferred units began trading on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding.
Dynagas LNG Partners LP (NYSE: DLNG) has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Preferred Units for the period from August 12, 2020, to November 11, 2020. This payment is set to be made on November 12, 2020 to preferred unit holders of record as of November 5, 2020. The Series A Preferred Units will continue to provide quarterly distributions each February, May, August, and November. Currently, 3,000,000 Series A Preferred Units are outstanding, marking the 21st sequential cash distribution.
Dynagas LNG Partners LP (NYSE: DLNG) reported net income of $6.4 million and earnings per common unit of $0.10 for the second quarter of 2020. Adjusted net income reached $9.9 million, with adjusted EBITDA at $24.1 million. The partnership maintained 100% fleet utilization and declared cash distributions of $0.5625 and $0.546875 for its preferred units. It entered a floating to fixed interest rate swap to secure a low cost of debt until 2024. The total cash reported was $63.3 million, with a contracted revenue backlog of $1.18 billion and an average remaining contract term of 8.1 years.
Dynagas LNG Partners LP (NYSE: DLNG) announced it will release its Q2 2020 financial results after market close on September 3, 2020. A conference call will follow on September 4, 2020, at 10:00 a.m. ET, where management will discuss these results. The partnership operates six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters. Investors can participate through a live webcast or audio call, with details available on the company’s website.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from May 22 to August 21, 2020. This distribution is scheduled for payout on August 24, 2020, to unit holders of record as of August 17, 2020. This marks the seventh consecutive distribution for the Series B Preferred Units since trading began on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding, as it operates a fleet of six LNG carriers with a total capacity of approximately 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from May 12, 2020, to August 11, 2020. This payment is due on August 12, 2020, to holders recorded by August 5, 2020. This marks the twentieth consecutive distribution since the units began trading. The partnership currently has 3,000,000 Series A Preferred Units outstanding and operates a fleet of six LNG carriers with an aggregate capacity of 914,000 cubic meters.
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