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KNOT Offshore Partners LP Announces Fourth Quarter 2021 Cash Distribution
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Rhea-AI Summary
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for Q4 2021, amounting to an annualized rate of $2.08 per unit. The distribution will be paid on February 10, 2022, to unitholders on record as of January 28, 2022. The Partnership operates shuttle tankers under long-term charters primarily in North Sea and Brazil's offshore oil regions. Although the Partnership issues Form 1099 for tax purposes, it faces potential risks and uncertainties affecting future performance.
Positive
Quarterly cash distribution of $0.52 per unit represents an annualized distribution of $2.08.
Distribution payment scheduled for February 10, 2022, providing consistent returns to unitholders.
The Partnership announced today that its Board of Directors has declared a quarterly cash distribution with respect to the quarter ended December 31, 2021, 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 10, 2022 to all unitholders of record as of the close of business on January 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 the SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
