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

Posted by Lisa Durand on Jan 9th, 2025

KNOT Offshore Partners LP (NYSE:KNOP – Get Free Report) announced a quarterly dividend on Thursday, January 9th,Wall Street Journal reports. Investors of record on Monday, January 27th will be given a dividend of 0.026 per share by the shipping company on Thursday, February 6th. This represents a $0.10 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, January 27th.

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 dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of KNOP stock traded up $0.05 during trading hours on Thursday, hitting $6.26. 70,734 shares of the company’s stock were exchanged, compared to its average volume of 114,827. The company has a market capitalization of $214.70 million, a PE ratio of -14.56 and a beta of 0.74. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The business’s 50 day simple moving average is $5.85 and its 200-day simple moving average is $6.65.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

Read Our Latest Research Report on KNOT Offshore Partners

About KNOT Offshore Partners

(Get Free Report)

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