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.


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