Markets

Teekay LNG Partners' Series B Preferred Shares Cross 8.5% Yield Mark

In trading on Monday, shares of Teekay LNG Partners LP's 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Symbol: TGP.PRB) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $2.1252), with shares changing hands as low as $24.97 on the day. This compares to an average yield of 8.84% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, TGP.PRB was trading at a 0.16% premium to its liquidation preference amount, versus the average discount of 2.64% in the "Energy" category.

The chart below shows the one year performance of TGP.PRB shares, versus TGP:

Performance Comparison Chart

Below is a dividend history chart for TGP.PRB, showing historical dividend payments on Teekay LNG Partners LP's 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units:

TGP.PRB+Dividend+History+Chart

In Monday trading, Teekay LNG Partners LP's 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Symbol: TGP.PRB) is currently up about 0.1% on the day, while the common shares (Symbol: TGP) are down about 2.8%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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