KNOT Offshore Partners LP Announces Fourth Quarter 2020 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 December 31, 2020, amounting to $2.08 annually. The payment date is set for February 11, 2021, and it will be issued to unitholders on record as of January 29, 2021. KNOT Offshore Partners specializes in owning, operating, and acquiring shuttle tankers under long-term charters primarily in offshore oil production areas such as the North Sea and Brazil.

Positive

• Declared a quarterly cash distribution of $0.52 per unit.
• Annualized distribution of $2.08 per outstanding unit.
• Scheduled payment on February 11, 2021.

Negative

• Forward-looking statements indicate potential risks and uncertainties affecting future results.

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 December 31, 2020, of $0.52 per unit.

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

This cash distribution will be paid on February 11, 2021 to all unitholders of record as of the close of business on January 29, 2021.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers 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. 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/20210113005623/en/

FAQ

What is the cash distribution amount declared by KNOT Offshore Partners LP for Q4 2020?

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

When will KNOT Offshore Partners LP pay its distribution?

The distribution will be paid on February 11, 2021.

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

The annualized cash distribution is $2.08 per outstanding unit.

Who is eligible for the cash distribution from KNOT Offshore Partners LP?

Unitholders of record as of the close of business on January 29, 2021, are eligible.