2024-04-14 10:40:00 ET
Summary
- Dynagas LNG Partners has not paid a dividend on its common shares since 2019, making the preferred shares more attractive.
- The company's financial results show robust cash flow, which is good news for preferred shareholders.
- Dynagas is working on refinancing its debt, which could pave the way for the restart of distributions on common shares.
Introduction
As Dynagas LNG Partners ( DLNG ) hasn’t paid a dividend on its common shares since 2019, I have been focusing on the preferred shares. One of the two series of preferred shares recently moved from a fixed rate to a floating rate preferred dividend . As the preferred dividends remain very well-covered and as the partnership hasn’t skipped a single preferred dividend (despite having suspended the payments on its common shares), I feel like both series of preferred shares remain relatively attractive....
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For further details see:
Dynagas LNG Partners: The Floating Rate Preferred Shares Currently Yield About 11%