Marine Products Corporation Announces 17 Percent Increase to Regular Quarterly Cash Dividend

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Marine Products Corporation (NYSE: MPX) announced a 17% increase in its quarterly cash dividend, raising it from $0.12 to $0.14 per share. This dividend will be payable on December 9, 2022, to stockholders on record as of November 10, 2022. The company is a leading manufacturer of fiberglass boats, including brands like Chaparral and Robalo. Marine Products aims to enhance its market share and financial performance through product innovation and a robust dealer network.

Positive

• 17% increase in quarterly cash dividend to $0.14 per share.
• Dividend payable to shareholders is a positive indication of financial health.
• Diverse product offerings and innovation support long-term growth.

Negative

• None.

ATLANTA, Oct. 26, 2022 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a 17 percent increase to the regular quarterly cash dividend from $0.12 per share to $0.14 per share payable December 9, 2022 to common stockholders of record at the close of business on November 10, 2022.

Marine Products Corporation is a leading manufacturer of fiberglass boats under the brand names Chaparral and Robalo. Chaparral's sterndrive models include SSi and SSX, along with the Chaparral Surf Series. Chaparral's outboard offerings include OSX Luxury Sportboats, and SSi and SSX outboard models. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. The Company continues to diversify its product lines through product innovation. With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. For more information on Marine Products Corporation visit our website at MarineProductsCorp.com.

For information contact:

Michael L. Schmit               
Chief Financial Officer
(404) 321-7910
irdept@marineproductscorp.com 

Jim Landers
Vice President Corporate Services
(404) 321-2162
jlanders@marineproductscorp.com 

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SOURCE Marine Products Corporation

FAQ

What is the new dividend amount for MPX?

The new dividend amount for Marine Products Corporation (MPX) is $0.14 per share.

When is the dividend payable for MPX?

The dividend for MPX is payable on December 9, 2022.

What was the previous dividend amount for MPX?

The previous dividend amount for MPX was $0.12 per share.

Who is eligible for the dividend from MPX?

Stockholders of Marine Products Corporation (MPX) who are on record as of November 10, 2022, are eligible for the dividend.