KNOT Offshore Partners LP Announces 2nd Quarter 2024 Cash Distribution

Rhea-AI Summary

KNOT Offshore Partners LP (NYSE: KNOP) announced a quarterly cash distribution of $0.026 per common unit for the quarter ending June 30, 2024. This distribution will be paid on August 8, 2024, to unitholders of record as of July 29, 2024. KNOT Offshore Partners LP focuses on owning and operating shuttle tankers under long-term charters in the offshore oil production regions of Brazil and the North Sea. Structured as a publicly traded master partnership, it issues Form 1099 to its unitholders for U.S. federal income tax purposes. KNOP common units trade on the New York Stock Exchange.

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• Declared quarterly cash distribution of $0.026 per common unit.

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• Low cash distribution of $0.026 per common unit may indicate financial constraints or conservative payout policy.

ABERDEEN, Scotland--(BUSINESS WIRE)-- KNOT Offshore Partners LP (NYSE:KNOP) (“The Partnership”)

Distribution

The Partnership announced today that its Board of Directors has declared a quarterly cash distribution with respect to the quarter ended June 30, 2024, of US$ 0.026 per common unit.

This cash distribution will be paid on August 8, 2024, to all unitholders of record as of the close of business on July 29, 2024.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea.

KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.

Forward looking statements

This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Factors that can affect future results are discussed in the Annual Report on Form 20-F filed by the Partnership with SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709710371/en/

KNOT Offshore Partners LP

Derek Lowe

Chief Executive Officer and Chief Financial Officer

Tel: +44 1224 618 420

Email: ir@knotoffshorepartners.com

Source: KNOT Offshore Partners LP

FAQ

What is the latest cash distribution declared by KNOT Offshore Partners LP?

KNOT Offshore Partners LP has declared a quarterly cash distribution of $0.026 per common unit for the quarter ending June 30, 2024.

When will the next KNOP cash distribution be paid?

The next KNOP cash distribution will be paid on August 8, 2024.

What is the record date for KNOP's upcoming cash distribution?

The record date for KNOP's upcoming cash distribution is July 29, 2024.

Under which stock symbol do KNOT Offshore Partners LP's units trade?

KNOT Offshore Partners LP's common units trade under the stock symbol 'KNOP' on the New York Stock Exchange.

Where does KNOT Offshore Partners LP operate its shuttle tankers?

KNOT Offshore Partners LP operates its shuttle tankers primarily in the offshore oil production regions of Brazil and the North Sea.