DLNG-B Dynagas LNG Partners LP 8.75% Series B Fixed to Floating Rate Cumulative Preferred Units
Distributions on the Series B Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the 22nd day of February, May, August and November of each year, when, as and if declared by our Board of Directors. The initial distribution on the Series B Preferred Units offered hereby will be payable on February 22, 2019. Distributions will be payable out of amounts legally available therefor (i) from and including the original issue date to, but excluding, November 22, 2023 at a fixed rate equal to 8.75% per annum of the stated liquidation preference per unit and (ii) from and including November 22, 2023 at a floating rate equal to three-month LIBOR plus a spread of 5.593% per annum of the stated liquidation preference per unit. At any time on or after November 22, 2023, the Series B Preferred Units may be redeemed, in whole or in part, out of amounts available therefor, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. This security was issued by Dynagas LNG Partners LP, whose common stock symbol is DLNG.
$24.05 +0.32 (1.35%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Energy
Industry: Oil & Gas Midstream
Index country: Monaco
Country of incorporation: Marshall Islands
IPO date: 10/17/2018
Outstanding shares: 2,200,000
Average volume: 13,978
Market cap: $56,254,000
Current dividend yield: 8.56% calculation
Initial coupon rate: 0.875%
Spread to LIBOR: 0.055930
Cumulative: Yes
Liquidation value: $25.00
Callable after: 11/22/2023
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Annual filings: 20-F
Sedol: