KNOT Offshore Partners LP (NYSE:KNOP) Raises Dividend to $0.07 Per Share

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Tuesday, July 7th. Shareholders of record on Monday, July 27th will be given a dividend of 0.075 per share by the shipping company on Thursday, August 13th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, July 27th. This is a 50.0% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.05.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%per year over the last three years. KNOT Offshore Partners has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect KNOT Offshore Partners to earn ($0.18) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -111.1%.

KNOT Offshore Partners Stock Up 6.0%

KNOP stock opened at $10.97 on Wednesday. The stock has a market capitalization of $369.32 million, a P/E ratio of 20.32 and a beta of -0.05. The firm has a 50-day simple moving average of $10.73 and a 200-day simple moving average of $10.49. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. KNOT Offshore Partners has a 52 week low of $6.76 and a 52 week high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The company had revenue of $92.01 million during the quarter, compared to analysts’ expectations of $90.35 million. Equities analysts forecast that KNOT Offshore Partners will post 0.14 earnings per share for the current fiscal year.

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.