KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, July 18th, Wall Street Journal reports. Investors of record on Wednesday, August 2nd will be paid a dividend of 0.52 per share by the shipping company on Tuesday, August 15th. This represents a $2.08 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date of this dividend is Monday, July 31st.

KNOT Offshore Partners has increased its dividend by an average of 40.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. KNOT Offshore Partners has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect KNOT Offshore Partners to earn $2.22 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 93.7%.

KNOT Offshore Partners (NYSE KNOP) traded up 1.95% during midday trading on Tuesday, reaching $23.50. 77,919 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $22.48 and its 200 day moving average is $22.50. The stock has a market cap of $705.07 million, a P/E ratio of 10.76 and a beta of 0.78. KNOT Offshore Partners has a 1-year low of $18.11 and a 1-year high of $24.67.

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Several research analysts have recently weighed in on the stock. TheStreet cut shares of KNOT Offshore Partners from a “b-” rating to a “c” rating in a report on Wednesday, April 19th. Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. KNOT Offshore Partners has a consensus rating of “Hold” and an average target price of $22.33.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.

Dividend History for KNOT Offshore Partners (NYSE:KNOP)

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