Teekay LNG Partners Declares 32 Percent Increase In Common Unit Distribution

HAMILTON, Bermuda, April 16, 2020 (GLOBE NEWSWIRE) -- Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared a cash distribution of $0.25 per common unit for the quarter ended March 31, 2020, representing a 32 percent increase over the previous quarter’s distribution. This corresponds to $1.00 per common unit on an annualized basis.

The cash distribution is payable on May 15, 2020 to all common unitholders of record on May 1, 2020.  Teekay LNG’s common unit distributions are reported on Form 1099 for United States tax purposes.

About Teekay LNG

Teekay LNG Partners is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers. Teekay LNG’s ownership interests in these vessels range from 20 to 100 percent. In addition, Teekay LNG owns a 30 percent interest in a regasification terminal. Teekay LNG Partners is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: [phone]
Website: www.teekay.com