GasLog Partners has reported its strongest ever quarter at the same time as increasing its cash distribution.
The GasLog spinoff posted quarterly net profit of $25.5m, compared to $23.2m in the corresponding period of 2015.
This helped the partnership up its dividend to $0.49 per common share, 3% higher than each of the third quarter and the fourth quarter of 2015.
Andrew Orekar, chief executive of GasLog Partners, said: “Following the successful acquisition of the GasLog Seattle, GasLog Partners delivered our highest-ever quarterly and annual partnership performance results for revenues, profit, EBITDA and distributable cash flow, among other metrics.
“We continue to meet our growth guidance while maintaining conservative distribution coverage.”
With more than $50m in cash, the company is also expecting to complete a $76.8m share offering later today.
GasLog Partners added that this year will see growing demand for its LNG carriers as long-term charter prospects remain positive.
Orekar said: “We expect 2017 to be another year of growth for GasLog Partners, as our substantial liquidity and dropdown pipeline provide significant visibility for future distribution increases.”
