KNOT Offshore Partners LP (KNOP) to Issue Quarterly Dividend of $0.03 on February 6th

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders 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 dividend 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 payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities 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

KNOT Offshore Partners stock opened at $6.26 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The firm has a market cap of $214.70 million, a PE ratio of -14.56 and a beta of 0.74. The company’s 50 day moving average is $5.85 and its two-hundred day 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 research note on Friday, December 6th.

KNOT Offshore Partners Company Profile

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.