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 $0.7231 per unit
on its Series B Fixed to Floating Rate Cumulative Redeemable
Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE:
DLNG PR B) for the period from and including October 23, 2018 to,
but excluding, February 22, 2019.
The cash distribution is payable on February 22,
2019 to all Series B Preferred Unit holders of record as of
February 15, 2019.
Distributions on the Series B Preferred Units
will be payable quarterly in arrears on the 22nd day of February,
May, August and November (unless the 22nd day falls on a weekend or
a public holiday, in which case, the payment date is moved to the
next business day) of each year, when, as and if declared by our
Board of Directors. This is the initial distribution on the Series
B Preferred Units.
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 Partners LP. (NYSE: DLNG) is a
growth-oriented master limited partnership formed by Dynagas
Holding Ltd., its sponsor, to own and operate liquefied natural gas
(LNG) carriers employed on multi-year charters. The Partnership’s
current fleet consists of six LNG carriers, with aggregate carrying
capacity of approximately 914,000 cubic meters.
Visit the Partnership’s website at
www.dynagaspartners.com
Contact Information:Dynagas LNG Partners LP 23,
Rue Basse, 98000 Monaco Attention: Michael Gregos Tel. +37799996445
Email: management@dynagaspartners.com Investor
Relations/ Financial Media: Nicolas Bornozis President Capital
Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel.
(212) 661-7566 E-mail: dynagas@capitallink.com
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,” “project”, “will”, “may,” “should,” “expect,”
“expected,” “pending” and similar expressions identify
forward-looking statements. These forward-looking are not intended
to give any assurance as to future results and should not be relied
upon.
The forward-looking statements in this press
release are based upon various assumptions and estimates, many of
which are based, in turn, upon further assumptions, including
without limitation, examination by the Partnership’s 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 Partnership’s 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 Partnership’s view, could cause
actual results to differ materially from those discussed, express
or implied, in the forward-looking statements include, but are not
limited to, the strength of world economies and currency
fluctuations, general market conditions, including fluctuations in
charter rates, ownership days, and vessel values, changes in supply
and demand for Liquefied Natural Gas (LNG) shipping capacity,
changes in the Partnership’s operating expenses, including bunker
prices, drydocking and insurance costs, the market for the
Partnership’s vessels, availability of financing and refinancing,
changes in governmental laws, rules and regulations or actions
taken by regulatory authorities, economic, regulatory, political
and governmental conditions that affect the shipping and the LNG
industry, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the U.S. Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties. The information set forth herein speaks only as
of the date hereof, and the Partnership disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.
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