HAMILTON, Bermuda, Jan. 18,2018 /PRNewswire/ -- Höegh LNG Partners LP (the "Partnership") (NYSE: HMLP) announced today that its board of directors (the "Board") has declared a quarterly cash distribution with respect to the quarter ended December 31, 2017 of $0.43 per unit for the common units. The distribution corresponds to an annualized distribution of $1.72 per unit.
The cash distribution for the common units will be paid on February 14, 2018 to all common unitholders of record as of the close of the business on February 1, 2018.
The Partnership also announced that the Board declared a cash distribution of $0.78993 per 8.75% Series A preferred unit for the period from the issuance date of October 5, 2017 up to and including February 14, 2018.
The cash distribution for the 8.75% Series A preferred units will be paid on February 15, 2018 to all 8.75% Series A preferred unitholders of record as of the close of the business on February 8, 2018.
Further to the November 16, 2017 announcement on the acquisition of the remaining 49% interest in the FSRU Höegh Grace, management reaffirms its previously announced intention to recommend to the Board that it consider an increase in the Partnership's quarterly cash common unit distribution for the distribution with respect to the quarter ending March 31, 2018. Any such increase would be conditioned upon, among other things, the approval of such increase by the Board and the absence of any adverse developments or potentially attractive opportunities that would make such an increase inadvisable.
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") and associated LNG infrastructure assets under long-term charters. It has interests in five FSRUs that have an industry leading average remaining firm contract duration of 11.5 years plus options as of December 31, 2017.
This press release includes statements that may constitute forward-looking statements, including statements regarding any increase in the distributions to common units. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that can affect future results are discussed in the registration statement filed by Höegh LNG Partners LP with the U.S. Securities and Exchange Commission (SEC), which is available via the SEC's web site at www.sec.gov. Höegh LNG Partners LP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
Media contact:
Richard Tyrrell
Chief Executive Officer and Chief Financial Officer
+44 7919 058830
www.hoeghlngpartners.com
SOURCE Hoegh LNG Partners LP