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

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Tuesday, July 9th, NASDAQ reports. Investors of record on Monday, July 29th will be given a dividend of 0.026 per share by the shipping company on Thursday, August 8th. This represents a $0.10 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, July 29th.

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 dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect KNOT Offshore Partners to earn $0.45 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 22.2%.

KNOT Offshore Partners Price Performance

Shares of KNOP opened at $7.25 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $7.27 and its two-hundred day moving average is $6.08. KNOT Offshore Partners has a 52-week low of $4.86 and a 52-week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.29. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. The firm had revenue of $76.63 million for the quarter, compared to analysts’ expectations of $70.66 million. As a group, equities research analysts predict that KNOT Offshore Partners will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded KNOT Offshore Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday.

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.