Dynagas LNG increases quarterly cash distribution

Dynagas LNG Partners announced that its Board of Directors has declared a quarterly cash distribution for Q3 of US$ 0.39 per unit.

This represents a 6.8% increase on Q2, reflecting the contribution to operating results for a full quarter of the 2013 built LNG carrier Arctic Aurora, which was delivered to Dynagas LNG in June.

In addition, and as a result of the company’s acquisition of the 2013 built LNG carrier Yenisei River in September, the management intends to recommend to the Board a further increase to Dynagas LNG’s quarterly cash distribution of between US$ 0.030 and US$ 0.035 per unit, which would become effective for the distribution with respect to Q4 2014.

This further increase, if approved, is expected to be declared and paid in February 2015 and would result in a quarterly cash distribution level of between US$ 0.420 and US$ 0.425 per unit corresponding to an annualised cash distribution of between US$ 1.68 and US$ 1.70 per unit.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/lng-shipping/23102014/dynagas-lng-shares-increase-in-value-1650/