TEEKAY LNG CUM.PFD A

Seapeak, formerly Teekay LNG Partners, reported robust financial performance in 2023 with total revenue of almost $727M. The preferred dividends of Seapeak have excellent coverage ratios, with less than 9% of attributable net income needed to cover them. Seapeak's balance sheet improved, with total equity increasing to $2.58B and common equity reaching approximately $2.3B at the end of 2023. » Mehr auf seekingalpha.com

Seapeak's Q3 results showed a substantial increase in income from vessel operations, but higher interest expenses and lower equity income affected consolidated results. The preferred dividends of Seapeak are well covered, and the company's ability to pay preferred dividends is not a concern. Seapeak's total amount of common equity has increased, making the preferred equity safer, and the company has an active share buyback program for preferred shares. » Mehr auf seekingalpha.com

Seapeak continues to pay the dividends on its preferred shares, although private equity group Stonepeak needs to inject more cash. Those cash injections are making the balance sheet (and the preferred shares) safer. » Mehr auf seekingalpha.com