Photo: Courtesy of Dynagas

Dynagas LNG states cash distributions on preferred units

Dynagas LNG Partners, a partnership formed by Greek shipping company Dynagas, has declared a cash distribution of $0.546875 per unit on its Series B Preferred Units.

Dynagas LNG states cash distributions on preferred units
Courtesy of Dynagas

Dynagas LNG Partners owns and operates liquefied natural gas (LNG) carriers employed on multi-year charters. The Parntership’s current fleet consists of six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic metres.

On 1 August, Dynagas LNG said that its board of directors declared a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from 22 May 2022 to 21 August 2022.

Distributions on the Series B Preferred Units will be payable quarterly in arrears on the 22nd day of February, May, August, and November of each year. This is the fifteenth sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.

As of now, the company has 2,200,000 Series B Preferred Units outstanding.

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Earlier in July, the company also declared a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from 12 May 2022 to 11 August 2022.