New Fortress Energy has acquired Golar LNG Partners LP

Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) today announces the completion of its sale to New Fortress Energy Inc. (“NFE”).

 

Under NFE’s merger agreement with GMLP, NFE acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash. NFE also acquired GMLP’s general partner for equivalent consideration. The transaction is valued at a $1.9 billion enterprise value and $251 million equity value. The Series A preferred units of GMLP will remain outstanding following the merger.

 

I should be getting $3.55 per share soon. So long GMLP....

Golar LNG partners acquired by New Fortress Energy

Under NFE’s agreement with GMLP (the "GMLP Agreement"), NFE has agreed to acquire all of the outstanding common units of GMLP for $3.55 per common unit in cash. NFE has also agreed to acquire GMLP’s general partner for equivalent consideration based on the general partner’s economic interest in GMLP. The preferred units of GMLP will remain outstanding. The transaction is valued at a $1.9 billion enterprise value and $251 million common equity value. GMLP’s Board of Directors, acting upon the recommendation of a special committee of independent directors of GMLP, unanimously approved the proposed transaction with NFE. The closing of the transaction is subject to the approval by the holders of a majority of GMLP’s outstanding common units, the receipt of certain regulatory approvals and third party consents and other customary closing conditions, and is expected to occur in the first half of 2021. 

It was a high time to get this POS out of my portfolio. Acquisition price is $3.55 per share, since I hold 47 shares of GMLP, I will receive $166.85

Golar LNG partners reduces distribution

The Partnership’s Board of Directors has approved a reduction in the quarterly common distribution to $0.0202 per unit for the quarter ended March 31, 2020 (from $0.4042 per unit in the previous quarter).  Golar Partners believes this reduction is in the best interest of all of its stakeholders during this unprecedented time of market volatility. The Partnership will, as a consequence, retain approximately $109 million of cash flow annually, allowing the Partnership to focus its capital allocation on debt reduction, thus strengthening its balance sheet while providing enhanced financial flexibility to consider capital allocation priorities over time. The reduction will also result in lower breakeven re-contracting rates across the Partnership’s fleet. 

Golar LNG Partners decreases dividend

Management of Golar LNG Partners LP ("the Partnership" or "Golar Partners") (NASDAQ: GMLP) has completed its review of the Partnership's distribution capacity.  After a thorough review the Partnership's board announced today that it has approved a quarterly cash distribution going forward of $0.4042 per common and general partner unit. Applicable in respect of the quarter ended September 30, 2018, this cash distribution will be paid on November 14, 2018 to all common and general partner unitholders of record as of the close of business on November 7, 2018.

It has been a target of the Board to set a distribution that is sustainable for the long-term.  Conservative assumptions have been applied to long-run rates achievable by the Partnership's three carriers currently exposed to the spot and short-term market. Similarly, a cautious stance has been taken on the contract status and future rates applicable in respect of the FSRU Golar Igloo.  No future earnings are assumed in respect of the FSRU Golar Spirit or from the acquisition of additional common units in Golar Hilli LLC.  In light of these conservative assumptions and to maintain sustainable coverage levels for the foreseeable future, a distribution cut of 30% was therefore considered necessary.

Golar Partners is now well positioned financially. Distribution upside exists in the event that the shipping market outperforms assumptions or the Golar Spirit secures employment.  Significant growth opportunities also exist including additional units in Golar Hilli LLC and the 25-year contracted FSRU Golar Nanook and associated Sergipe cash flows. These opportunities will however, to a large extent, be dependent on more effectively priced equity or realization of a flatter debt amortization profile.

Golar LNG Partners dividend for Q1 / 2018

Golar LNG Partners LP ("the Partnership") (NASDAQ: GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended December 31, 2017 of $0.5775 per common and general partner unit. This cash distribution will be paid on February 14, 2018 to all common and general partner unitholders of record as of the close of business on February 7, 2018.

Golar LNG Partners dividend for Q4 / 2017

Golar LNG Partners LP (NASDAQ: GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended September 30, 2017 of $0.5775 per unit. This cash distribution will be paid on November 14, 2017 to all unitholders of record as of the close of business on October 30, 2017.

Golar LNG Partners dividend for Q1 2017

Golar LNG Partners LP (GMLP) announced today that its board of directors has approved a quarterly cash di
stribution with respect to the quarter ended March 31, 2017 of $0.5775 per unit. This cash distribution will be paid on May 12, 2017 to all unitholders of record as of the close of business on May 5, 2017.

Golar LNG Partners dividend for Q4 2016

Golar LNG Partners LP (GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended December 31, 2016 of $0.5775 per unit. This cash distribution will be paid on February 14, 2017 to all unitholders of record as of the close of business on February 7, 2017

Golar LNG partners LP dividend Q3 / 2016

Hamilton, Bermuda, Oct. 25, 2016 (GLOBE NEWSWIRE) -- Golar LNG Partners LP (NASDAQ: GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended September 30, 2016 of $0.5775 per unit. This cash distribution will be paid on November 14, 2016 to all unitholders of record as of the close of business on November 7, 2016.

Golar LNG Partners dividend Q1 / 2016

HAMILTON, Bermuda, April 25, 2016 (GLOBE NEWSWIRE) -- Golar LNG Partners LP (NASDAQ:GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended March 31, 2016 of $0.5775 per unit, which is unchanged from the prior quarter.

This cash distribution will be paid on May 13, 2016 to all unitholders of record as of the close of business on May 6, 2016

Golar LNG Partners LP dividend for Q4 2015

Golar LNG Partners LP (NASDAQ: GMLP) announced today that its board of directors has approved a quarterly cash distribution with respect to the quarter ended December 31, 2015 of $0.5775 per unit. This cash distribution will be paid on February 12, 2016 to all unitholders of record as of the close of business on February 5, 2016.

Golar LNG Partners Q3 dividend

Golar LNG Partners (NASDAQ:GMLP) announced a quarterly dividend on Wednesday, October 28th, Analyst Ratings.Net reports. Shareholders of record on Friday, November 6th will be paid a dividend of 0.5775 per share on Friday, November 13th. This represents a $2.31 annualized dividend and a yield of 13.16%. The ex-dividend date of this dividend is Wednesday, November 4th.

New purchase : Golar LNG partners

Added 25 shares of Golar LNG partners (GMLP) at price $15.97 per share. This brings down my average purchase price to €19.69 per share and increases yield on cost to 10.50%

Golar LNG partners dividend increase

Golar LNG Partners (NASDAQ:GMLP) announced a quarterly dividend on Monday, April 27th, ARN reports. Shareholders of record on Thursday, May 7th will be paid a dividend of 0.5775 per share on Thursday, May 14th. This represents a $2.31 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date is Tuesday, May 5th.This is a 2.7% increase over the previous quarters dividend (0.5625)

New purchase : Golar LNG Partners

New position started in portfolio : Golar LNG Partners LP (GMLP)

GMLP

Golar LNG Partners LP owns and operates floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters. The Company’s objective is to increase quarterly distributions per unit over time by growing its business through accretive acquisitions of FSRUs and LNG carriers and by chartering its vessels pursuant to long-term charters with high quality customers that generate long-term stable cash flows. The vessels in its current fleet are chartered to BG Group, Pertamina, Petrobras, Dubai Supply Authority, PTNR, Eni S.p.A. and KNPC. The LNG is transported overseas in specially built tanks on double-hulled ships to a receiving terminal, where it is offloaded and stored in heavily insulated tanks. The Company’s fleet consists of five FSRUs and four LNG carriers.

Golar LNG Partners pays dividend quarterly with 2-5-8-11 schedule. Starting yield is 8.18%