Teekay LNG Partners Declares Distributions on Series A and B Preferred Units

Rhea-AI Summary

Teekay GP LLC has declared cash distributions of $0.5625 per unit for Series A preferred units (TGP-PA) and $0.5313 per unit for Series B preferred units (TGP-PB) for the period of January 1 to March 31, 2021. These distributions will be payable on April 15, 2021, to unitholders of record as of March 31, 2021. Teekay LNG, one of the largest independent owners and operators of LNG carriers, operates under long-term, fee-based contracts with a fleet of 47 LNG carriers, 23 LPG carriers, and 7 multi-gas carriers.

Positive

• Declaring cash distributions of $0.5625 per Series A preferred unit and $0.5313 per Series B preferred unit.
• Teekay LNG operates a substantial fleet of 47 LNG carriers, indicating strong operational capacity.

Negative

• None.

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HAMILTON, Bermuda, March 18, 2021 (GLOBE NEWSWIRE) -- Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units (NYSE:TGP PR A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TGP PR B) for the period from January 1, 2021 to March 31, 2021. The cash distributions are payable on April 15, 2021 to all unitholders of record as at March 31, 2021.  

Teekay LNG’s preferred unit distributions are reported on Form 1099 for United States tax purposes.

About Teekay LNG

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers. The Partnership’s ownership interests in these vessels range from 20 to 100 percent. In addition, the Partnership owns a 30 percent interest in a regasification terminal. Teekay LNG is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekay.com

FAQ

What are the declared cash distributions for Teekay LNG's preferred units in 2021?

Teekay LNG declared $0.5625 per unit for Series A preferred units (TGP-PA) and $0.5313 per unit for Series B preferred units (TGP-PB).

When are Teekay LNG's preferred unit distributions payable?

The distributions are payable on April 15, 2021, to unitholders of record as of March 31, 2021.

How many LNG carriers does Teekay LNG own?

Teekay LNG owns a fleet of 47 LNG carriers.

What is the stock symbol for Teekay LNG Partners?

Teekay LNG Partners trades under the symbols TGP for common units, TGP-PA for Series A preferred units, and TGP-PB for Series B preferred units.