Marine Products Corporation Announces 17 Percent Increase to Regular Quarterly Cash Dividend
Marine Products Corporation (NYSE: MPX) announced a 17% increase in its quarterly cash dividend, raising it from $0.12 to $0.14 per share.
Sentiment and the balance of points
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Rhea-AI Summary
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.
Details
News Market Reaction – MPX
The recorded move for MPX in the trading session of this news was +6.96%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
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