KNOT Offshore Partners LP (NYSE:KNOP) Plans Dividend Increase – $0.10 Per Share

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Thursday, October 1st. Stockholders of record on Monday, October 26th will be given a dividend of $0.10 per share by the shipping company on Thursday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, October 26th. This is a 33.3% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.0750.

KNOT Offshore Partners has decreased its dividend by an average of 0.5%annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect KNOT Offshore Partners to earn $0.19 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 157.9%.

KNOT Offshore Partners Stock Up 1.2%

KNOP stock opened at $10.45 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 1.10. KNOT Offshore Partners has a fifty-two week low of $8.00 and a fifty-two week high of $11.78. The firm’s 50-day simple moving average is $10.78 and its 200 day simple moving average is $10.60. The stock has a market cap of $351.88 million, a PE ratio of 23.76 and a beta of -0.02.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.73%. The firm had revenue of $96.78 million during the quarter. As a group, sell-side analysts predict that KNOT Offshore Partners will post 0.22 EPS for the current year.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (NYSE:KNOP) is a publicly traded master limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities, such as floating production, storage and offloading units, to onshore terminals, refineries, or other destinations.

The partnership’s fleet is primarily employed under long-term charter contracts with energy companies and offshore producers. Its shuttle tankers are designed for repeated loading and transportation of crude oil in offshore environments and may use dynamic positioning and other specialized systems to safely connect with production and storage vessels.

KNOT Offshore Partners was established in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a company associated with the Knutsen shipping group and NYK Line.