Company: DLNG
Filing Date: 2025-03-07
Form Type: 6-K
Source: 0001317861-25-000016
Chunk: 2

Company: Dynagas LNG Partners LP
Filing Date: 2025-03-07
Form: 6-K
Chunk 2
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 units. The Program does not obligate the Partnership to repurchase any dollar amount or number of common units and the Program may be suspended or discontinued at any time at the Partnership’s discretion; and · During the fourth quarter of 2024 and through the date of this press release, repurchased 55,118 common units under the Program for total net proceeds of $0.25 million, at an average price of $4.45 per common unit. (1)Adjusted Net Income, Adjusted Earnings per common unit and Adjusted EBITDA are not recognized measures under U.S. GAAP. Please refer to Appendix B of this press release for the definitions and reconciliation of these measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP and other related information. (2)Please refer to Appendix B for additional information on how we calculate fleet utilization. Subsequent Events: · Declared a quarterly cash distribution of $0.5625 on the Partnership’s Series A Preferred Units for the period from November 12, 2024 to February 11, 2025, which was paid on February 12, 2025 to all Series A Preferred unitholders of record as of February 5, 2025; · Declared a quarterly cash distribution of $0.677286319 on the Partnership’s Series B Preferred Units for the period from November 22, 2024 to February 23, 2025, which was paid on February 24, 2025 to all Series B Preferred unitholders of record as of February 14, 2025; and · Declared a quarterly cash distribution of $0.049 per common unit for the quarter ended December 31, 2024, which was paid on February 27, 2025 to all common unitholders of record as of February 24, 2025. CEO Commentary: We are pleased with the financial results for the three months ended December 31, 2024. For this quarter, our Net Income stood at $14.1 million, with earnings per common unit of $0.29. We achieved an Adjusted EBITDA and an Adjusted Net Income of $28.5 million and $15.0 million respectively. Our financial results reflect our stable, contracts-based operating model. Currently, all six LNG carriers in our fleet are under long-term charters with international gas companies with an average remaining term of 5.9 years, as of the date of