Dynagas LNG Partners LP Declares Cash Distribution on Its Series A Preferred Units
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Should l Buy DLNG?
Source: Newsfilter
Cash Distribution Announcement: Dynagas LNG Partners LP has declared a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from August 12, 2024, to November 11, 2024, payable on November 12, 2024.
Company Overview: The Partnership operates liquefied natural gas carriers with a fleet of six vessels and has consistently paid quarterly distributions since its units began trading on the NYSE.
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Analyst Views on DLNG
About DLNG
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company's vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet). The vessels in its Fleet have an average age of 6.6 years and are contracted under multi-year charters with Shell, Gazprom, Statoil and Yamal with an average remaining charter term, as of March 17, 2017, of approximately 10.6 years, including the charter agreements relating to the Yenisei River and the Lena River with Yamal. The Company's Fleet is managed by its manager, Dynagas Ltd.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Flexible Repurchase Methods: Repurchases will be conducted through privately negotiated transactions, open market transactions, or other means, with management determining the amount and timing based on legal requirements, market conditions, and liquidity, ensuring flexibility and market responsiveness.
- Market Reaction Expectations: Although the program does not obligate the partnership to repurchase any specific amount or number of units, its announcement is likely to enhance investor confidence in the short term, potentially leading to a positive impact on the stock price.
See More
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- Market Positioning: By continuously updating its board and auditor, Dynagas LNG Partners demonstrates a commitment to compliance and transparency, aiming to strengthen investor trust and support future business expansion.
See More
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Preferred Units Redemption: The partnership fully redeemed 2,200,000 Series B Preferred Units on July 25, 2025, for a total payment of $56 million, funded by internal cash reserves, which is expected to save approximately $5.7 million annually in cash costs.
Impact of Sanctions: Current U.S. and E.U. sanctions related to the Russian conflict with Ukraine have not materially affected the partnership's operations, but the company continues to monitor potential future impacts on its business and financial condition.
See More
