Hoegh LNG Declares Higher Dividend
By Aiswarya Lakshmi
Saturday, January 23, 2016
Höegh LNG Partners LP announced that its board of directors (the "Board") has declared a quarterly cash distribution with respect to the quarter ended December 31, 2015 of $0.4125 per unit.
This represents an increase of $0.075 per unit or approximately 22% from the third quarter 2015 distribution and is related to the acquisition of the FSRU Höegh Gallant. The distribution corresponds to an annualized distribution of $1.65 per unit.
The cash distribution will be paid on February 15, 2016 to all unitholders of record as of the close of the business on February 5, 2016. The annual yield on the dividend is 12 percent.
Höegh LNG Partners LP is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs ticker:HLNG), a leading floating LNG service provider.
HMLP's strategy is to own, operate and acquire floating storage and regasification units (FSRUs), LNG carriers and other LNG infrastructure assets under long-term charters. Its current fleet consists of interests in four modern FSRUs.