Teekay Declares Cash Distribution: $0.67 Per Unit
Bermuda registered Teekay GP LLC, the general partner of Teekay LNG Partners L.P., has declared a cash distribution of $0.675 per unit for the quarter ended March 31, 2012, an increase of $0.045 per unit, or approximately 7%, from the previous quarter. The cash distribution is payable on May 14, 2012 to all unitholders of record on April 23, 2012.
“This distribution increase is based primarily on the successful accretive acquisition of the Maersk LNG fleet through our joint venture with Marubeni Corporation,” commented Peter Evensen, Chief Executive Officer of Teekay GP LLC.
“We are pleased to add these six vessels to our fleet and, based on the attractive near- and long-term fundamentals of the LNG shipping sector, we continue to actively monitor the market for accretive opportunities to grow our portfolio of stable distributable cash flows.”
Teekay LNG Partners is the world’s third largest independent owner and operator of LNG vessels, providing LNG, LPG and crude oil marine transportation services through its interests in 27 LNG carriers, five LPG/Multigas carriers and 11 conventional tankers.
