Dynagas LNG Partners LP, an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that its Board of Directors has declared a cash distribution of $0.69999031 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE: DLNG PR B) for the period from and including August 22, 2024 to and including November 21, 2024 (the “Distribution Period”).
The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units. The distribution rate for the Distribution Period was 10.956370% (which is the sum of the applicable Credit Adjusted Three-Month CME Term SOFR of 5.36337% plus a spread of 5.593%).
The cash distribution is payable on November 22, 2024 to all Series B Preferred Unitholders of record as of the close of business on November 15, 2024.
Distributions on the Series B Preferred Units are payable quarterly in arrears on the 22nd day (unless the 22nd day falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the twenty-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 as of the date of this press release.
