Company: DLNG
Filing Date: 2025-03-07
Form Type: 6-K
Source: 0001317861-25-000016
Chunk: 1

Company: Dynagas LNG Partners LP
Filing Date: 2025-03-07
Form: 6-K
Chunk 1
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 announced its results for the three and twelve months ended December 31, 2024. Twelve months Highlights: · Net Income and Earnings per common unit (basic and diluted) of $51.6 million and $1.05, respectively; · Adjusted Net Income (1)of $54.2 million and Adjusted Earnings per common unit (1)(basic and diluted) of $1.12; · Adjusted EBITDA (1)$115.0 million; and · 100% fleet utilization (2). Quarter Highlights: · Net Income and Earnings per common unit (basic and diluted) of $14.1 million and $0.29, respectively; · Adjusted Net Income (1)of $15.0 million and Adjusted Earningsper common unit (1)(basic and diluted) of $0.32; · Adjusted EBITDA (1)of $28.5 million; · 100% fleet utilization (2); · Declared and paid a cash distribution of $0.5625 per unit on the Partnership’s Series A Preferred Units (NYSE: “DLNG PR A”) for the period from August 12, 2024 to November 11, 2024 and $0.69999031 per unit on the Series B Preferred Units (NYSE: “DLNG PR B”) for the period from August 22, 2024 to November 21, 2024; · Declared a quarterly cash distribution of $0.049 per common unit for the quarter ended September 30, 2024, which was paid on December 12, 2024; · On November 21, 2024, the Partnership’s Board of Directors authorized the repurchase of up to an aggregate of $10 million of the Partnership’s outstanding common units to be made over the following 12 months (the “Program”). Repurchases of common units under the Program may be made, from time to time, in privately negotiated transactions, in open market transactions, or by other means, including through trading plans intended to qualify under Rule 10b-18 and/or Rule 10b5-1 of the U.S. Securities Exchange Act of 1934, as amended. The amount and timing of any repurchases made under the Program will be in the sole discretion of the Partnership’s management team, and will depend on a variety of factors, including legal requirements, market conditions, other investment opportunities, available liquidity, and the prevailing market price of the common