Dynagas LNG Partners Declares $0.71764025/Unit Series B Preferred Distribution

TL;DR

**DLNG PR B holders are getting their preferred distribution of $0.71764025 per unit.**

AI Summary

Dynagas LNG Partners LP announced on February 1, 2024, that its Board of Directors declared a cash distribution of $0.71764025 per unit for its Series B Preferred Units (NYSE: DLNG PR B). This distribution covers the period from November 22, 2023, to February 21, 2024. This matters to investors because it confirms the company's commitment to paying its preferred unit holders, indicating financial stability and a reliable income stream for those specific investors.

Why It Matters

This filing confirms Dynagas LNG Partners LP is maintaining its dividend payments on preferred units, which is a positive signal for income-focused investors holding DLNG PR B.

Risk Assessment

Risk Level: low — The declaration of a preferred unit distribution generally indicates stable financial health for that specific class of security.

Analyst Insight

Investors holding DLNG PR B can expect to receive their declared distribution, reinforcing the income-generating aspect of these preferred units. This filing provides no direct insight for common stock (DLNG) performance, but stable preferred distributions can be a sign of overall financial health.

Key Numbers

• $0.71764025 — Cash Distribution per Series B Preferred Unit (The amount declared for the distribution period.)

Key Players & Entities

• Dynagas LNG Partners LP (company) — the registrant and issuer of preferred units
• Tony Lauritzen (person) — Chief Executive Officer who signed the report
• $0.71764025 (dollar_amount) — cash distribution per Series B Preferred Unit
• Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (company) — the specific units receiving the distribution
• February 1, 2024 (date) — date of the press release and filing
• November 22, 2023 (date) — start of the distribution period
• February 21, 2024 (date) — end of the distribution period

Forward-Looking Statements

• Dynagas LNG Partners LP will continue to make regular distributions on its Series B Preferred Units. (Dynagas LNG Partners LP) — high confidence, target: Next distribution period (May 2024)

FAQ

Key Financial Figures

• $0.71764025 — ors has declared a cash distribution of $0.71764025 per unit on its Series B Fixed to Float
• $25.00 — ad of 5.593% (the Margin) per annum per $25.00 stated liquidation preference per unit.

Filing Documents

• f20124dlng6k.htm (6-K) — 15KB
• f20124dlng6k002.gif (GRAPHIC) — 14618KB
• 0001317861-24-000005.txt ( ) — 20144KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: February 1, 2024 DYNAGAS LNG PARTNERS LP By: /s/ Tony Lauritzen Name: Tony Lauritzen Title: Chief Executive Officer Exhibit 99.1 DYNAGAS LNG PARTNERS LP DECLARES CASH DISTRIBUTION ON ITS SERIES B PREFERRED UNITS ATHENS February 1, 2024 - Dynagas LNG Partners LP (the Partnership) (NYSE: DLNG), an owner and operator of liquefied natural gas (LNG) carriers, today announced that its Board of Directors has declared a cash distribution of $0.71764025 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 November 22, 2023 to and including February 21, 2024 (the Distribution Period). Effective as of November 22, 2023, in accordance with the terms of the Series B Preferred Units, the distribution rate for the Series B Preferred Units changed from fixed to floating, and is equal to the Term Secured Overnight Financing Rate for the applicable three month tenor published by the Chicago Mercantile Exchange plus the credit spread adjustment of 0.26161% (Credit Adjusted Three-Month CME Term SOFR) plus a spread of 5.593% (the Margin) per annum per $25.00 stated liquidation preference per unit. The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units. The calculation agent selected Credit Adjusted Three-Month CME Term SOFR as the comparable substitute base rate for the Three-Month LIBOR Rate, which otherwise would have been the applicable base rate. LIBOR rates were discontinued as of June 30, 2023. The distribution rate for the Distribution Period was 11.232630%, which is the sum of 5.639630% (the applicable Credit Adjusted Three-Month CME Term SOFR)

Forward-Looking Statements

Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words believe, anticipate, intends, estimate, forecast, project, plan, potential, may, should, expect, expected, pending and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnerships management of historical operating trends, data contained in its records and other data available from third parties. 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 Partnerships control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in the Partnerships view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel va

View Full Filing

View this 6-K filing on SEC EDGAR