Marine Products Corporation Announces Regular Quarterly Cash Dividend

Rhea-AI Summary

Marine Products Corporation (NYSE: MPX) declared a regular quarterly cash dividend of $0.14 per share, set to be paid on March 10, 2023, to stockholders recorded by February 10, 2023. As a leader in fiberglass boat manufacturing, MPX operates well-known brands like Chaparral and Robalo, focusing on premium quality and innovation. The company is strategically positioned to enhance its market share and strengthen long-term shareholder value through diverse product offerings and a robust dealer network.

Positive

• Quarterly cash dividend of $0.14 per share boosts income for shareholders.
• Strong brand portfolio and innovative product lines enhance market position.
• Solid capital structure enables MPX to capitalize on growth opportunities.

Negative

• None.

ATLANTA, Jan. 25, 2023 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.14 per share payable March 10, 2023 to common stockholders of record at the close of business on February 10, 2023.

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, and the Chaparral Surf Series. Chaparral's outboard offerings include OSX Luxury Sportboats and SSi 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 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 dividend amount declared by Marine Products Corporation?

Marine Products Corporation declared a quarterly cash dividend of $0.14 per share.

When is the dividend payment date for Marine Products Corporation?

The dividend payment date is March 10, 2023.

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

The record date for the dividend is February 10, 2023.

How does Marine Products Corporation plan to increase shareholder value?

Marine Products Corporation plans to increase shareholder value through product innovation and market share growth.