Dynagas LNG Partners LP Declares Cash Distribution on Its Series A Preferred Units
MONACO--(Marketwired - Oct 23, 2015) - Dynagas LNG Partners LP (the "Partnership") (NYSE: DLNG), an owner and operator of LNG carriers, today announced that its Board of Directors has declared a cash distribution of $0.70 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (the "Series A Preferred Units") (NYSE: DLNG PR A) for the period from July 20, 2015 to November 12, 2015.
The cash distribution is payable on or about November 12, 2015 to all preferred unit holders of record as of November 5, 2015.
Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the initial distribution on the Series A Preferred Units.
The Partnership has 3,000,000 Series A Preferred Units outstanding as of the date of this press release.
About Dynagas LNG Partners LP
Dynagas LNG Partners LP. (NYSE: DLNG) is a growth-oriented partnership formed by Dynagas Holding Ltd. to own, and operate liquefied natural gas (LNG) carriers employed on multi-year charters. The current fleet of Dynagas Partners consists of five LNG carriers, with an aggregate carrying capacity of approximately 759,100 cubic meters.
Visit the Partnership's website at www.dynagaspartners.com
The statements in this press release that are not historical facts may be forward-looking statements. The forward-looking statements in this press release are based upon various assumptions. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnership's control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition, there are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these risks, uncertainties, and other important factors. The information set forth herein speaks only as of the date hereof, and the Partnership disclaims any intention or obligation to update any forward-looking statements.
(October 23, 2015 - 4:05 PM EDT)
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