Dynagas LNG Partners Prepares for Upcoming Dividend Payment
Dividend Announcement and Trading Insights
On November 5, 2024, Dynagas LNG Partners LP’s 9.00% Series A Cumulative Redeemable Preferred Units (Symbol: DLNG.PRA) will trade ex-dividend. The quarterly dividend of $0.5625 will be payable on November 12, 2024. Based on a recent share price of $25.57, this dividend represents about 2.20%. Investors can expect shares of DLNG.PRA to open 2.20% lower on November 5, 2024, following the dividend deduction. The annualized yield currently stands at approximately 8.77%, significantly higher than the average yield of 5.43% seen in the “Oil & Gas Equipment & Services” preferred stock sector, according to Preferred Stock Channel.
Performance and Historical Context
The chart below illustrates the one-year performance of DLNG.PRA shares compared to DLNG:
Additionally, the following chart displays the historical dividends for DLNG.PRA, highlighting the recent $0.5625 payout:
During trading on Friday, Dynagas LNG Partners LP’s 9.00% Series A Cumulative Redeemable Preferred Units (Symbol: DLNG.PRA) showed a slight decline of about 0.3%. In contrast, the common shares (Symbol: DLNG) experienced an increase of about 1.5%.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
