Dynagas LNG Partners LP Declares Cash Distribution on Its Series B Preferred Units

ATHENS, Greece, April 30, 2024 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that its Board of Directors has declared a cash distribution of $0.69853375 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE: DLNG PR B) for the period from and including February 22, 2024 to and including May 21, 2024 (the “Distribution Period”).

The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units. The distribution rate for the Distribution Period was 11.17654% (which is the sum of the applicable Credit Adjusted Three-Month CME Term SOFR of 5.58354% plus a spread of 5.593%).

The cash distribution is payable on May 22, 2024, to all Series B Preferred Unitholders of record as of the close of business on May 15, 2024.

Distributions on the Series B Preferred Units are payable quarterly in arrears on the 22^nd day (unless the 22^nd day 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 twenty-second sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.

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 master limited partnership which owns and operates 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
Attention: Michael Gregos
Tel. [phone]
Email: [e-mail]

Investor Relations/ Financial Media:
Nicolas Bornozis/Markella Kara
Capital Link, Inc.

230 Park Avenue, Suite 1540
New York, NY 10169
Tel. [phone]
E-mail: [e-mail]

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.