DLNG - Dynagas LNG Partners LP Declares Cash Distribution on Its Series A Preferred Units | Benzinga
ATHENS, Greece, Nov. 03, 2023 (GLOBE NEWSWIRE) -- 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 $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (the "Series A Preferred Units") (NYSE:DLNG) for the period from August 12, 2023 to November 11, 2023 (the "Distribution").
The Distribution is payable on November 13, 2023 to all preferred unit holders of record as of November 6, 2023.
Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day (unless the 12th 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 thirty-third sequential cash distribution on the Series A Preferred Units since they began trading on the New York Stock Exchange (the "NYSE").
The Partnership has 3,000,000 Series A Preferred Units outstanding as of the date of this press release.
Important Information About the Distribution
Series A Preferred Units that traded on the NYSE on November 3, 2023 have "due-bills" attached, carrying the right to receive the Distribution. Due-bills would obligate a seller of Series A Preferred Units to deliver the Distribution to the buyer. The due-bill obligations ...