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

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, January 27th.

KNOT Offshore Partners has decreased its dividend payment by an average of 63.2% per year over the last three years. KNOT Offshore Partners has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. 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

KNOP stock opened at $6.26 on Friday. The business has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $6.65. The company has a market capitalization of $214.70 million, a P/E ratio of -14.56 and a beta of 0.74. KNOT Offshore Partners has a twelve month low of $4.94 and a twelve month high of $9.11. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52.

Wall Street Analyst Weigh In

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

About KNOT Offshore Partners

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.