Dynagas LNG Partners LP, an owner and operator of LNG carriers, announced on October 31, 2019, that its Board of Directors has declared a cash distribution of $0.546875 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units, the “Series B Preferred Units,” for the period from August 22, 2019 to November 21, 2019.
The cash distribution is payable on November 22, 2019 to all preferred unit holders of record as of November 15, 2019. This is the fourth sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.
The Partnership has 2,200,000 Series B Preferred Units outstanding. Dynagas LNG Partners LP. (DLNG) says it is a growth-oriented master limited partnership formed by Dynagas Holding Ltd., its sponsor, to own and operate liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic metres.
Established in 2004, Dynagas has pioneered the Northern Sea Route for LNG carriers.