Marine Products Corporation Announces Regular Quarterly Cash Dividend and Special Year-End Cash Dividend

Rhea-AI Summary

Marine Products Corporation (NYSE: MPX) announced a quarterly cash dividend of $0.08 per share and a special year-end cash dividend of $0.04 per share. Both dividends will be paid on December 10, 2020, to stockholders on record as of November 10, 2020. The company, a leader in manufacturing fiberglass boats under brands like Chaparral and Robalo, is focused on product innovation and market expansion to enhance shareholder value.

Positive

• Regular quarterly cash dividend of $0.08 per share declared.
• Special year-end cash dividend of $0.04 per share announced.
• Dividends signify strong financial position and commitment to return value to shareholders.

Negative

• None.

ATLANTA, Oct. 28, 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. In addition, the Board declared a special year-end cash dividend of $0.04 per share. Both dividends will be paid December 10, 2020 to common stockholders of record at the close of business on November 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 Services
(404) 321-2162
jlanders@marineproductscorp.com

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SOURCE Marine Products Corporation

FAQ

What is the dividend amount declared by Marine Products Corporation?

Marine Products Corporation declared a regular quarterly dividend of $0.08 per share and a special year-end dividend of $0.04 per share.

When will Marine Products Corporation pay the dividends?

The dividends will be paid on December 10, 2020.

What is the record date for the dividends from Marine Products Corporation?

The record date for the dividends is November 10, 2020.

How does the dividend announcement impact Marine Products Corporation stock?

The dividend announcement indicates a strong financial position, which can positively influence investor confidence in Marine Products Corporation's stock.