Teekay GP, the general partner of Teekay LNG Partners, has declared a cash distribution of $0.675 per unit for the quarter ended March 31, 2012, an increase of $0.045 per unit, or approximately 7 percent, from the previous quarter.
The cash distribution is payable on May 14, 2012 to all unitholders of record on April 23, 2012.
“ This distribution increase is based primarily on the successful accretive acquisition of the Maersk LNG fleet through our joint venture with Marubeni Corporation ,” commented Peter Evensen , Chief Executive Officer of Teekay GP .
“ We are pleased to add these six vessels to our fleet and, based on the attractive near- and long-term fundamentals of the LNG shipping sector, we continue to actively monitor the market for accretive opportunities to grow our portfolio of stable distributable cash flows .”
[mappress] LNG World News Staff, April 16, 2012