Teekay GP, the general partner of Teekay LNG Partners, has declared a cash distribution of $0.70 per unit for the quarter ended December 31, 2014.
This is an increase of 1.2 percent over the cash distribution of $0.6918 per unit for the quarter ended September 30, 2014. The cash distribution is payable on February 13, 2015 to all unitholders of record on January 15, 2015.
The increase to the fourth quarter distribution coincides with the completion of the purchase-leaseback of an on-the-water liquefied petroleum gas carrier from I.M Skaugen SE in November 2014.
Press Release; Image: Teekay