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Teekay LNG Partners LP's 9.00% Series A Cumulative Redeemable Perpetual Preferred Units About To Put More Money In Your Pocket

By Preferred Stock Channel Staff, Monday, September 27, 1:33 PM ET

On 9/29/21, Teekay LNG Partners LP's 9.00% Series A Cumulative Redeemable Perpetual Preferred Units (TGP.PRA) will trade ex-dividend, for its quarterly dividend of $0.5625, payable on 10/15/21. As a percentage of TGP.PRA's recent share price of $25.68, this dividend works out to approximately 2.19%, so look for shares of TGP.PRA to trade 2.19% lower — all else being equal — when TGP.PRA shares open for trading on 9/29/21. On an annualized basis, the current yield is approximately 8.78%, which compares to an average yield of 8.13% in the "Energy" preferred stock category, according to Preferred Stock Channel.

As of last close, TGP.PRA was trading at a 2.52% premium to its liquidation preference amount. The chart below shows the one year performance of TGP.PRA shares, versus TGP:

Performance Comparison Chart

Below is a dividend history chart for TGP.PRA, showing historical dividends prior to the most recent $0.5625 on Teekay LNG Partners LP's 9.00% Series A Cumulative Redeemable Perpetual Preferred Units:

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In Monday trading, Teekay LNG Partners LP's 9.00% Series A Cumulative Redeemable Perpetual Preferred Units (TGP.PRA) is currently up about 0.2% on the day, while the common shares (TGP) are trading flat.

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