KNOT Offshore Partners LP Announces First Quarter 2022 Cash Distribution

Rhea-AI Summary

KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ending March 31, 2022. This distribution annualizes to $2.08 per outstanding unit. Unitholders of record as of April 28, 2022 will receive this payment on May 12, 2022. The partnership, operating primarily in the North Sea and Brazil, is structured as a publicly traded master limited partnership.

Positive

• Quarterly cash distribution of $0.52 per unit declared.
• Annualized distribution amounting to $2.08 per unit.
• Distribution represents consistent cash flow for investors.

Negative

• None.

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 March 31, 2022, of $0.52 per unit.

This corresponds to $2.08 per outstanding unit on an annualized basis.

This cash distribution will be paid on May 12, 2022 to all unitholders of record as of the close of business on April 28, 2022.

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 the North Sea and Brazil. 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/20220413005638/en/

KNOT Offshore Partners LP

Gary Chapman

Chief Executive Officer and Chief Financial Officer

Tel: +44 7496 170 620

Email: ir@knotoffshorepartners.com

Source: Knot Offshore Partners LP

FAQ

What is the recent cash distribution declared by KNOT Offshore Partners LP (KNOP)?

KNOT Offshore Partners LP declared a quarterly cash distribution of $0.52 per unit.

When will KNOT Offshore Partners LP (KNOP) pay its declared distribution?

The distribution will be paid on May 12, 2022.

What is the annualized cash distribution for KNOT Offshore Partners LP (KNOP)?

The annualized cash distribution is $2.08 per outstanding unit.

Who is eligible for the distribution from KNOT Offshore Partners LP (KNOP)?

Unitholders of record as of April 28, 2022, are eligible for the distribution.