Marine Products Corporation Announces Regular Quarterly Cash Dividend

Rhea-AI Summary

Marine Products Corporation (NYSE: MPX) has declared a regular quarterly cash dividend of $0.08 per share, payable on September 10, 2020 to stockholders of record as of August 10, 2020. The company continues to innovate its product lines, manufacturing fiberglass boats under well-known brands like Chaparral, Robalo, and Vortex. With a strong capital structure and an independent dealer network, Marine Products aims to enhance its market share and deliver superior financial performance to create long-term value for shareholders.

Positive

• Declared quarterly cash dividend of $0.08 per share.
• Dividend payment supports shareholder income.
• Strong product innovation with a diverse range of fiberglass boats.
• Solid capital structure and strong dealer network ready to enhance market share.

Negative

• None.

ATLANTA, July 29, 2020 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.08 per share payable September 10, 2020 to common stockholders of record at the close of business on August 10, 2020.

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 Finance
(404) 321-2162
jlanders@marineproductscorp.com

View original content:http://www.prnewswire.com/news-releases/marine-products-corporation-announces-regular-quarterly-cash-dividend-301101609.html

SOURCE Marine Products Corporation

FAQ

What is the dividend amount announced by MPX?

Marine Products Corporation announced a quarterly cash dividend of $0.08 per share.

When will the dividend for MPX be paid?

The dividend will be paid on September 10, 2020.

What is the record date for the dividend payment for MPX?

The record date for the dividend payment is August 10, 2020.

How does MPX plan to generate long-term shareholder value?

MPX aims to generate long-term shareholder value through product innovation and a strong capital structure.