Teekay LNG Partners L.P. to Issue Quarterly Dividend of $0.14 (TGP)
Teekay LNG Partners L.P. (NYSE:TGP) declared a quarterly dividend on Friday, January 5th, Wall Street Journal reports. Investors of record on Friday, February 2nd will be paid a dividend of 0.14 per share by the shipping company on Friday, February 9th. This represents a $0.56 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, February 1st.
Teekay LNG Partners has decreased its dividend payment by an average of 40.8% per year over the last three years. Teekay LNG Partners has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teekay LNG Partners to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 37.8%.
Shares of Teekay LNG Partners (NYSE:TGP) traded up $0.05 during trading on Friday, hitting $20.55. 257,700 shares of the company traded hands, compared to its average volume of 250,400. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $1,630.00, a price-to-earnings ratio of 24.76 and a beta of 1.27. Teekay LNG Partners has a 52 week low of $14.05 and a 52 week high of $20.85.
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About Teekay LNG Partners
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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