A 10% Yield, Increased Distribution, No K-1, Goes Ex-Dividend This Week

You know what's good to see in one of your holdings? Management actually doing what they said they were going to do. The yield is 9.97%, with 1.17X coverage in Q4 '17. Goes ex-dividend this week. Management just raised the payout, based on new assets that'll increase 2018 earnings substantially. It's 12% below analysts' lowest price target. This is a C-Corp that issues 1099s - no K-1. There's also a preferred series yielding 8.4%.

"Following the closing of the acquisition of the remaining 49% ownership interest in the Höegh Grace entities on December 1, 2017, management anticipates recommending to the Board an increase in the Partnership's distribution to common and subordinated units with respect to the quarter ending March 31, 2018." (Source: HMLP site) That was the management of Hoegh LNG Partners LP (HMLP), a pure play FSRU shipping company, commenting on their intention of raising their upcoming Q1 '18 distribution.

Source: Seeking Alpha

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