Business Context and Reporting Period
This Form 6-K filing by Dynagas LNG Partners LP (NYSE: DLNG) covers the month of July 2016, with the report dated July 25, 2016. The Partnership is a growth-oriented master limited partnership formed to own and operate liquefied natural gas (LNG) carriers on multi-year charters. As of the filing date, the fleet consists of six LNG carriers with an aggregate carrying capacity of approximately 913,980 cubic meters.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The primary financial data disclosed relates to a specific distribution event:
- Distribution Declared: $0.5625 per unit on Series A Cumulative Redeemable Perpetual Preferred Units.
- Distribution Period: May 12, 2016, to August 11, 2016.
- Payment Date: On or about August 12, 2016.
- Record Date: August 5, 2016.
- Outstanding Units: 3,000,000 Series A Preferred Units.
- Total Distribution Value: $1,687,500 (calculated as 3,000,000 units x $0.5625).
Material Changes
This filing represents the fourth cash distribution on the Series A Preferred Units since they began trading on the NYSE. There is no comparative financial data provided in this document to assess material changes in operating performance versus prior periods.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statements regarding assumptions that may differ from actual results due to uncertainties and contingencies beyond the Partnership's control. No specific operational guidance, outlook, or management commentary on future earnings or fleet expansion is included in this specific report. The document directs investors to other SEC filings for a complete discussion of risks.
Key Facts for Investor Verification
- Verify the record date of August 5, 2016, to confirm eligibility for the $0.5625 per unit distribution.
- Confirm the payment date of approximately August 12, 2016, for cash flow planning.
- Review the Partnership's Form 20-F or other periodic reports for comprehensive financial data, as this 6-K only discloses the preferred unit distribution.
- Note that the Series A Preferred Units are cumulative and redeemable perpetual units, distinct from common units.