Marine Products Corporation Announces 25 Percent Increase in Regular Quarterly Cash Dividend

Rhea-AI Summary

Marine Products Corporation (NYSE: MPX) has declared a 25% increase in its regular quarterly cash dividend from $0.08 to $0.10 per share. This dividend is payable on March 10, 2021 to shareholders of record as of February 10, 2021. The company, known for its fiberglass boats under the brands Chaparral, Robalo, and Vortex, continues to innovate and diversify its product lines, aiming to enhance market share and shareholder value.

Positive

• 25% increase in quarterly cash dividend from $0.08 to $0.10 per share.
• Dividend payable on March 10, enhancing returns for shareholders.
• Strong independent dealer network supporting market share growth.

Negative

• None.

ATLANTA, Jan. 27, 2021 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a 25 percent increase to the regular quarterly cash dividend from $0.08 per share to $0.10 per share payable March 10, 2021 to common stockholders of record at the close of business on February 10, 2021. 

Marine Products Corporation (NYSE: MPX) is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral's sterndrive models include SSi and SSX, along with the Chaparral Surf Series.  Chaparral's outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name.  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:

BEN M. PALMER
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 recent dividend announcement for MPX?

Marine Products Corporation announced a 25% increase in its quarterly cash dividend from $0.08 to $0.10 per share.

When is the dividend payment date for MPX?

The dividend will be payable on March 10, 2021.

Who are the shareholders of record for the MPX dividend?

The shareholders of record for the dividend are those holding shares at the close of business on February 10, 2021.