KNOT Offshore Partners LP Announces First Quarter 2023 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 March 31, 2023. This distribution will be payable on May 11, 2023, to unitholders of record as of April 27, 2023. The company operates shuttle tankers under long-term charters primarily in the North Sea and Brazil, and is structured as a publicly traded master limited partnership. For tax purposes, it issues a Form 1099 to unitholders instead of a Form K-1. The partnership emphasizes that its future results are subject to various risks and uncertainties, which are detailed in their Annual Report filed with the SEC.

Positive

• Declared a quarterly cash distribution of $0.026 per common unit.
• Distribution payment scheduled for May 11, 2023, indicating stable cash flow.

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, 2023, of $0.026 per common unit.

This cash distribution will be paid on May 11, 2023 to all unitholders of record as of the close of business on April 27, 2023.

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/20230413005481/en/

KNOT Offshore Partners LP

Gary Chapman

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 cash distribution declared by KNOT Offshore Partners LP for Q1 2023?

KNOT Offshore Partners LP declared a cash distribution of $0.026 per common unit for the quarter ended March 31, 2023.

When is the cash distribution payment date for KNOT Offshore Partners LP?

The cash distribution will be paid on May 11, 2023.

What is the significance of KNOT Offshore Partners LP's cash distribution announcement?

The cash distribution announcement indicates the partnership's stable cash flow and commitment to return value to unitholders.

What date do KNOT Offshore Partners LP unitholders need to be on record to receive the cash distribution?

Unitholders need to be on record by April 27, 2023, to receive the cash distribution.