Welcome to our dedicated page for Dynagas Lng Partners Lp news (Ticker: DLNG), a resource for investors and traders seeking the latest updates and insights on Dynagas Lng Partners Lp stock.
Dynagas LNG Partners LP (NYSE: DLNG) is a master limited partnership that owns and operates a fleet of six liquefied natural gas (LNG) carriers employed on multi-year charters. Its news flow, as reflected in press releases furnished on Form 6-K, centers on financial results, distributions, capital allocation decisions and governance matters related to this LNG shipping business.
Readers of the DLNG news page can review regular earnings announcements, including results for quarterly and year-to-date periods. These releases highlight voyage revenues, Net Income, Adjusted Net Income, Adjusted EBITDA, Earnings per common unit and fleet utilization for the Partnership’s six-vessel LNG carrier fleet. The Partnership also reports on liquidity, debt levels, sale and leaseback arrangements, and other financing developments.
Another key category of news involves cash distributions and capital returns. Dynagas LNG Partners LP frequently issues press releases announcing quarterly cash distributions on its common units and on its Series A Cumulative Redeemable Perpetual Preferred Units, as well as details of record dates and payment dates. The Partnership also discloses activity under its common unit repurchase programs, including authorizations by the Board of Directors and the amount of common units repurchased under these programs.
Corporate actions and governance updates form an additional stream of news. The Partnership announces the scheduling of its Annual Meeting of Limited Partners, the results of voting at these meetings, and the appointment or re-election of directors and independent auditors. It also provides notices regarding the redemption of preferred units, such as the full redemption of its Series B Preferred Units.
By following DLNG news, investors and analysts can track how Dynagas LNG Partners LP’s long-term charter contracts, high reported fleet utilization and capital allocation choices, such as distributions and unit repurchases, are reflected in its periodic disclosures and regulatory filings.
Dynagas LNG Partners LP (NYSE: DLNG) reported strong financial results for the year and fourth quarter ending December 31, 2022. Key highlights include a net income of $54 million for the year, or $1.15 per unit, and $11.6 million for Q4, or $0.24 per unit. The Partnership achieved 100% fleet utilization for 11 consecutive quarters and announced a new three-year time charter agreement with Equinor for the Arctic Aurora. Total contracted revenue backlog is estimated at $1 billion, with a reduction in net leverage from 6.6x to 4.7x since 2019, alongside a 35% increase in book equity. The Partnership remains focused on debt reduction amidst stable long-term cash flow visibility.
Dynagas LNG Partners LP (NYSE: DLNG) will disclose its financial results for Q4 2022 on March 17, 2023, before market opening in New York. A conference call with management will follow at 10:00 a.m. ET to discuss these results. Interested participants can dial in or register online for faster access. The Partnership operates a fleet of six LNG carriers with a combined capacity of approximately 914,000 cubic meters. For more details, visit their website to access the live webcast and related presentation slides.
Dynagas LNG Partners LP (NYSE: DLNG) has declared a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from November 22, 2022 to February 21, 2023. This payment is scheduled for February 22, 2023, to preferred unit holders recorded by February 15, 2023. This marks the seventeenth consecutive cash distribution for these units, which will be paid quarterly in arrears every February, May, August, and November. The partnership has 2,200,000 Series B Preferred Units outstanding, reflecting its ongoing commitment to unit holders.
Dynagas LNG Partners LP (NYSE: DLNG) has announced a cash distribution of $0.5625 per unit on its Series A Preferred Units, covering the period from November 12, 2022 to February 11, 2023. This distribution is payable on February 13, 2023, to holders of record as of February 6, 2023. This marks the 30th consecutive cash distribution since these units began trading. As of the date of the press release, there are 3,000,000 Series A Preferred Units outstanding. The Partnership operates liquefied natural gas carriers under multi-year charters, with a fleet capacity of approximately 914,000 cubic meters.
Summary not available.
Dynagas LNG Partners LP (NYSE: DLNG) announced a new time charter agreement with Equinor ASA for its LNG carrier Arctic Aurora. This contract, effective September 2023, will extend employment for approximately three years, contributing an estimated $116.5 million to the Partnership’s revenue backlog. The Arctic Aurora has been with Equinor since its delivery in 2013, highlighting a strong operational relationship. The Partnership currently operates six LNG carriers with a total capacity of about 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) reported third-quarter results for 2022, highlighting a net income of $7.4 million and earnings per common unit of $0.12. The Partnership maintained a 100% fleet utilization rate and declared cash distributions for its preferred units. Adjusted Net Income stood at $4.5 million with an Adjusted EBITDA of $20.0 million. Despite ongoing sanctions due to the Russia-Ukraine conflict, the Partnership indicated that current sanctions do not materially affect its operations. Its backlog of contracted revenue is estimated at $0.91 billion.
Dynagas LNG Partners LP (NYSE: DLNG) announced that new U.S. Treasury Regulations effective January 1, 2023, mandate brokers to withhold on gross proceeds from non-U.S. persons selling publicly traded partnership interests taxed as partnerships. Since Dynagas is taxed as a corporation, its interests are exempt from these regulations. Consequently, certain non-U.S. brokers may restrict non-U.S. persons from holding interests in such partnerships. For more details, visit Dynagas Partners.
Dynagas LNG Partners LP (NYSE: DLNG) will announce its third-quarter financial results on December 12, 2022, before market opening in New York. A conference call will follow at 10:00 a.m. ET on the same day, where management will discuss the results. Participants can access the call by dialing in 10 minutes ahead of time. A live webcast and archived audio will also be available on the company's website. Currently, the partnership operates a fleet of six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters.
The Annual General Meeting of Limited Partners for Dynagas LNG Partners LP (NYSE: DLNG) was held on November 30, 2022, in Athens, Greece. Key resolutions approved include the re-election of Alexios Rodopoulos as a Class II Director for a three-year term until 2025, and the re-appointment of Ernst & Young (Hellas) as the independent auditors for the fiscal year ending December 31, 2022.