Dynagas LNG Partners Slashes Distribution

Dynagas LNG Partners (NYSE:DLNG) has cut their quarterly distribution from 42.25 cents to 25 cents.  DLNG is an owner of a small fleet (6 ships) of LNG ships.

Dynagas has 1 preferred issue outstanding and shares fell 40 cents today, while the common units fell by about 10%.

DLNG had focused on securing shorter term contracts for their LNG ships, but have now switched to longer term contracts which gives them greater visibility to cash available for distribution.

 

2 thoughts on “Dynagas LNG Partners Slashes Distribution”

  1. And yet, DLNG-PA is still trading over a buck north of par.. It hasn’t seen sub-$25 since 2016. Was hoping this news might finally provide a chance to get a shot at it around or sub-$25, but doesn’t look that way..

    1. Yes you are correct–the LNG carriers are the best of the shipping issues now–with the U.S. ability to export there are plenty of buyers around the world keeping shippers busy. But like all shippers eventually the supply of ships will be too great–but that will be a while. Thanks for stopping by.

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