KNOT Offshore Partners LP Announces 4th Quarter 2024 Cash Distribution
KNOT Offshore Partners LP (NYSE:KNOP) has announced its quarterly cash distribution for Q4 2024. The Partnership will distribute US$ 0.026 per common unit to unitholders of record as of January 27, 2025, with payment scheduled for February 6, 2025.
The company reaffirms its strategic focus on accretive fleet investments and maintaining long-term, sustainable distributions. KNOT Offshore Partners operates shuttle tankers under long-term charters in Brazil and the North Sea's offshore oil production regions. While structured as a master partnership, it is classified as a for U.S. federal income tax purposes, issuing Form 1099 to unitholders.
KNOT Offshore Partners LP (NYSE:KNOP) ha annunciato la sua distribuzione di cassa trimestrale per il IV trimestre del 2024. La Partnership distribuirà 0,026 US$ per ciascuna unità comune agli unitholder registrati al 27 gennaio 2025, con pagamento previsto per il 6 febbraio 2025.
L’azienda ribadisce il suo focus strategico su investimenti nella flotta redditizi e sul mantenimento di distribuzioni sostenibili a lungo termine. KNOT Offshore Partners opera con petroliere shuttle sotto contratti a lungo termine in Brasile e nelle regioni di produzione di petrolio offshore nel Mare del Nord. Sebbene sia strutturata come una partnership principale, è classificata come tale ai fini fiscali federali statunitensi, emettendo il modulo 1099 per gli unitholder.
KNOT Offshore Partners LP (NYSE:KNOP) ha anunciado su distribución de efectivo trimestral para el cuarto trimestre de 2024. La Sociedad distribuirá 0,026 US$ por unidad común a los unitholders registrados hasta el 27 de enero de 2025, con un pago programado para el 6 de febrero de 2025.
La empresa reafirma su enfoque estratégico en inversiones en flota que generen beneficios y en mantener distribuciones sostenibles a largo plazo. KNOT Offshore Partners opera tanqueros de shuttle bajo contratos a largo plazo en Brasil y en las regiones de producción de petróleo offshore del Mar del Norte. Aunque está estructurada como una sociedad principal, se clasifica como tal a efectos del impuesto federal sobre la renta en EE. UU., emitiendo el formulario 1099 a los unitholders.
KNOT Offshore Partners LP (NYSE:KNOP)는 2024년 4분기 분기 현금 분배를 발표했습니다. 파트너십은 2025년 1월 27일 기준의 유닛홀더에게 0.026 미화 달러를 배분할 예정이며, 지급일은 2025년 2월 6일로 예정되어 있습니다.
회사는 유익한 선대 투자와 장기적이고 지속 가능한 분배 유지를 위한 전략적 초점을 다시 한 번 강조했습니다. KNOT Offshore Partners는 브라질과 북해의 해양 석유 생산 지역에서 장기 계약 아래 셔틀 유조선을 운영합니다. 주요 파트너십으로 구조화되어 있지만 미국 연방 세금 목적으로 분류되며, 유닛홀더에게 1099 양식을 발급합니다.
KNOT Offshore Partners LP (NYSE:KNOP) a annoncé sa distribution de trésorerie trimestrielle pour le quatrième trimestre de 2024. Le partenariat distribuera 0,026 US$ par unité ordinaire aux détenteurs d'unités enregistrés au 27 janvier 2025, avec un paiement prévu pour le 6 février 2025.
L'entreprise réaffirme son orientation stratégique vers des investissements dans la flotte générateurs de profits et le maintien de distributions durables à long terme. KNOT Offshore Partners exploite des navires-citernes de navette sous des contrats à long terme au Brésil et dans les régions de production de pétrole offshore de la mer du Nord. Bien qu'elle soit structurée comme un partenariat principal, elle est classée comme telle aux fins de l'impôt fédéral sur le revenu américain, émettant le formulaire 1099 aux détenteurs d'unités.
KNOT Offshore Partners LP (NYSE:KNOP) hat die vierteljährliche Barausschüttung für das 4. Quartal 2024 bekannt gegeben. Die Partnerschaft wird 0,026 US$ pro Stammanteil an die zum 27. Januar 2025 registrierten Unitholder ausschütten, wobei die Zahlung für den 6. Februar 2025 geplant ist.
Das Unternehmen bekräftigt seinen strategischen Fokus auf ertragsreiche Flotteninvestitionen und die Aufrechterhaltung langfristiger, nachhaltiger Ausschüttungen. KNOT Offshore Partners betreibt Shuttle-Tanker unter langfristigen Charterverträgen in Brasilien und in den Offshore-Ölproduktionsgebieten der Nordsee. Obwohl es als Hauptpartnerschaft strukturiert ist, wird es für US-amerikanische Bundessteuerzwecke klassifiziert und stellt den Unitholdern das Formular 1099 aus.
- Maintains quarterly dividend distribution despite market conditions
- Continues operations with long-term charter business model
- Low dividend amount of $0.026 per unit indicates cash distribution to unitholders
Insights
The announced quarterly distribution of
The company's strategic focus on fleet investment over distributions signals a defensive posture amid market pressures. The shuttle tanker sector faces headwinds from volatile oil production rates and charter rate fluctuations in key markets like Brazil and the North Sea. The minimal distribution level suggests management is prioritizing balance sheet strength and operational flexibility over unitholder returns.
For context, MLPs typically offer higher yields to compensate for their structure and risk profile. This ultra-low distribution indicates potential concerns about cash flow stability or upcoming capital requirements. Investors should note that while the company maintains its distribution, the token amount suggests near-term prospects for meaningful income returns.
The reduction in distribution reflects broader industry dynamics in the offshore energy services sector. The shuttle tanker market's fundamentals remain challenging, with oil majors carefully managing production levels and transportation needs. KNOP's position in Brazil and North Sea markets exposes it to regional dynamics where capital investment decisions by major oil producers directly impact demand for shuttle tanker services.
The decision to maintain a minimal distribution rather than eliminate it entirely suggests management is attempting to balance unitholder expectations with financial prudence. However, the
Distribution
The Partnership announced today that its Board of Directors has declared a quarterly cash distribution with respect to the quarter ended December 31, 2024, of
This cash distribution will be paid on February 6, 2025, to all unitholders of record as of the close of business on January 27, 2025.
The Partnership continues to believe that key components of its strategy and value proposition are accretive investment in the fleet and a long-term, sustainable distribution.
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
KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for
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.
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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
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