KNOT Offshore Partners LP (KNOP) to Issue Quarterly Dividend of $0.05 on May 14th

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, April 7th. Investors of record on Monday, April 27th will be paid a dividend of 0.05 per share by the shipping company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, April 27th. This is a 92.3% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 10.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect KNOT Offshore Partners to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 18.9%.

KNOT Offshore Partners Trading Down 0.4%

Shares of NYSE KNOP opened at $10.02 on Thursday. KNOT Offshore Partners has a 1-year low of $5.45 and a 1-year high of $11.15. The business has a fifty day moving average price of $10.31 and a 200 day moving average price of $10.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.26 and a quick ratio of 0.25. The stock has a market capitalization of $341.08 million, a P/E ratio of 14.74 and a beta of -0.10.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.