Company: DLNG
Filing Date: 2025-05-29
Form Type: 6-K
Source: 0001317861-25-000028
Chunk: 3

Company: Dynagas LNG Partners LP
Filing Date: 2025-05-29
Form: 6-K
Chunk 3
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on to the Redemption Date, whether or not declared (the “Redemption Price”), which will be payable in cash on the Redemption Date. The Partnership has designated Computershare Trust Company, N.A. as the paying agent for the Series B Preferred Units (the “Paying Agent”). The address of the Paying Agent is: 150 Royall Street, Suite 101, Canton MA 02021, Attn: Corporate Actions. All Series B Preferred Units are represented by a single certificate issued to The Depository Trust Company and registered in the name of its nominee, Cede & Co., and will be surrendered automatically to the Paying Agent in accordance with the applicable procedures of The Depository Trust Company or such nominee. The information in this press release regarding the Redemption does not constitute a notice of redemption of the Series B Preferred Units, and is neither an offer to purchase nor a solicitation of an offer to sell any Series B Preferred Units. CEO Commentary: We are pleased with our financial performance for the quarter. Net Income for the period was $13.6 million, or $0.28 per common unit, while utilization was 100%. We reported Adjusted EBITDA of $27.1 million and Adjusted Net Income of $14.3 million. These results underscore the strength of our contracts-based business model, which continues to shield us from the prevailing weakness in the short-term LNG shipping market. All six LNG carriers in our fleet are employed under long-term charters with leading international gas companies, with an average remaining contract duration of 5.7 years as of the date of this release. Barring any unforeseen events, we do not expect any vessel availability before 2028. Our estimated contract backlog stands at approximately $0.9 billion as of May 27, 2025. In line with our commitment to delivering unitholder value, we paid a quarterly cash distribution of $0.049 per common unit on May 23, 2025. We also continued to execute on our Repurchase Program, having repurchased 271,303 common units to date at an average price of $3.79 per unit, well below our estimated net asset value per unit. As of today, $9.0 million remains available under the Repurchase Program. Following the successful refinancing of our debt in June 2024, our balance sheet has strengthened meaningfully. Two of our vessels are now debt-free, and our annual debt amortization of $44 million represents 14% of our total