GasLog Partners said it will cut its quarterly payout to shareholders by 78% as it looks to strengthen financial position following a sizeable impairment charge caused by its older LNG carriers.
The New York-listed shipowner, a master limited partnership spin-off of GasLog Ltd, said it plans to spend this year strengthening its balance sheet.
The announcement came as GasLog Ltd posted a loss of $116m for the year on Thursday, despite record annual revenue of $669m.
