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

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Investors of record on Monday, April 29th will be given a dividend of 0.026 per share by the shipping company on Thursday, May 9th. This represents a $0.10 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, April 26th.

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 250.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect KNOT Offshore Partners to earn $0.03 per share next year, which means the company may not be able to cover its $0.10 annual dividend with an expected future payout ratio of 333.3%.

KNOT Offshore Partners Trading Down 1.9 %

NYSE KNOP opened at $5.14 on Thursday. The company’s 50-day simple moving average is $5.33 and its two-hundred day simple moving average is $5.65. KNOT Offshore Partners has a one year low of $4.28 and a one year high of $7.00. The company has a market capitalization of $174.97 million, a price-to-earnings ratio of -5.04 and a beta of 0.67. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.67 and a current ratio of 0.70.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Monday, February 26th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.23). The business had revenue of $73.03 million for the quarter, compared to analysts’ expectations of $70.96 million. KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. Equities analysts forecast that KNOT Offshore Partners will post -0.31 EPS for the current fiscal year.

KNOT Offshore Partners Company Profile

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