Teekay LNG Increases Cash Distribution

Teekay GP, the general partner of Teekay LNG Partners, has declared a cash distribution of $0.6918 per unit for the quarter ended December 31, an increase of 2.5 percent over the cash distribution of $0.675 per unit for the quarter ended September 30, 2013.

The cash distribution for the quarter ended December 31, 2013 is payable on February 14, 2014 to all unitholders of record on January 31.

The increase to the fourth quarter distribution coincides with the completion of the purchase-leaseback of two liquefied natural gas (LNG) carrier newbuildings from Awilco LNG ASA in September and November 2013.

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LNG World News Staff, January 16, 2014; Image: Teekay