Dynagas LNG Partners increases cash distribution

Dynagas LNG Partners said that its board of directors has declared a quarterly cash distribution with respect to the quarter ended December 31, 2014 of $0.4225 per unit. 

This represents an 8.3% increase from the prior quarter’s distribution of $0.39 per unit and reflects the contribution to operating results for a full quarter of the Partnership’s 2013 built LNG carrier Yenisei River, which was acquired from Dynagas Holding, the Partnership’s sponsor, and delivered to the Partnership on September 25, 2014.

The cash distribution is payable on or about February 12, 2015 to unitholders of record as of February 5, 2015, the company said in a statement.

This further increase in the Partnership’s cash distributions corresponds to an estimated annualized cash distribution of $1.69 per unit, representing an aggregate increase in the Partnership’s cash distributions of 15.8% since its initial public offering in November 2013.

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Press Release; Image: Dynagas LNG Partners

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