Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 266

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 266
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 Board of Directors authorized the Common Unit Repurchase Program, which authorizes the repurchase of up to an aggregate of $10 million of our outstanding common units over 12 months. Repurchases of common units under the Common Unit Repurchase 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 Exchange Act. The amount and timing of any repurchases made under the Common Unit Repurchase Program will be in our management team’s sole discretion, 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 units. The Common Unit Repurchase Program does not obligate us to repurchase any dollar amount or number of common units, and the Common Unit Repurchase Program may be suspended or discontinued at any time at our discretion. During the year ended December 31, 2024, we re-purchased 55,118 common units for a total amount of $0.2 million. See “Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers”.
Our long-term liquidity requirements relate primarily to funding capital expenditures, including the repayment of our long-term debt and the potential acquisition of additional vessels.
In accordance with our business strategy, other liquidity needs may relate to funding potential investments and maintaining cash reserves against fluctuations in operating cash flows. We expect that we will rely upon external financing sources, including bank borrowings, other financing arrangements and the issuance of debt and equity securities, to fund acquisitions and other expansion capital expenditures. Cash and cash equivalents are held in U.S. dollars. Please see “Item 8. Financial Information—A. Consolidated Statements and Other Financial Information—Our Cash Distribution Policy” for a discussion of our cash distribution policy and how we define “available cash” under the Partnership Agreement.
Cash and cash equivalents
As of December 31, 2024, we reported cash and cash equivalents of $68.2 million which represented a decrease of $5.6 million, or 7.6%, compared to $73.8 million, as of December 31, 2023. Please see “Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources—Our Borrowing Activities.”
Working capital position
Working capital is equal to current assets minus current liabilities,