Dynagas LNG Partners LP Declares Series B Preferred Unit Distribution

TL;DR

Dynagas LNG Partners LP is paying out cash to Series B preferred unitholders on April 30, 2024.

AI Summary

Dynagas LNG Partners LP announced on April 30, 2024, that it will declare a cash distribution on its Series B preferred units. The press release detailing this distribution is attached as Exhibit 99.1 to this Form 6-K filing.

Why It Matters

This announcement directly impacts Series B preferred unitholders by confirming a cash payout, providing clarity on income distribution for this class of security.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a preferred unit distribution, not indicating any significant operational or financial changes.

Key Players & Entities

• Dynagas LNG Partners LP (company) — Registrant and issuer of preferred units
• April 30, 2024 (date) — Date of press release and filing
• Series B preferred units (security) — Subject of the cash distribution
• Exhibit 99.1 (document) — Attached press release
• Form F-3 (File No. 333-240014) (document) — Registration statement into which information is incorporated

FAQ

Key Financial Figures

• $0.69853375 — ors has declared a cash distribution of $0.69853375 per unit on its Series B Fixed to Float

Filing Documents

• f43024dlng6k.htm (6-K) — 14KB
• f43024dlng6k002.gif (GRAPHIC) — 14618KB
• 0001317861-24-000023.txt ( ) — 20143KB

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: April 30, 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 April 30, 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 $0.69853375 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 February 22, 2024 to and including May 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 11.17654% (which is the sum of the applicable Credit Adjusted Three-Month CME Term SOFR of 5.58354% plus a spread of 5.593%). The cash distribution is payable on May 22, 2024, to all Series B Preferred Unitholders of record as of the close of business on May 15, 2024. Distributions on the Series B Preferred Units are payable quarterly in arrears on the 22 nd day (unless the 22 nd 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-second 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. About Dynagas LNG Partners LP Dynagas LNG

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