KNOT Offshore Partners LP Declares Quarterly Dividend of $0.03 (NYSE:KNOP)

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Investors of record on Monday, April 29th will be paid a dividend of 0.026 per share by the shipping company on Thursday, May 9th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, April 26th.

KNOT Offshore Partners has decreased its dividend payment by an average of 63.2% annually over the last three years. KNOT Offshore Partners has a payout ratio of 250.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect KNOT Offshore Partners to earn $0.03 per share next year, which means the company may not be able to cover its $0.10 annual dividend with an expected future payout ratio of 333.3%.

KNOT Offshore Partners Price Performance

Shares of KNOP stock opened at $5.24 on Wednesday. KNOT Offshore Partners has a twelve month low of $4.28 and a twelve month high of $7.00. The stock has a market capitalization of $178.37 million, a price-to-earnings ratio of -5.14 and a beta of 0.67. The stock has a fifty day simple moving average of $5.34 and a two-hundred day simple moving average of $5.65. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.23). KNOT Offshore Partners had a positive return on equity of 2.86% and a negative net margin of 11.81%. The firm had revenue of $73.03 million during the quarter, compared to analysts’ expectations of $70.96 million. On average, analysts predict that KNOT Offshore Partners will post -0.31 EPS for the current fiscal year.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.