Marine Products Corporation Announces 25 Percent Increase in Regular Quarterly Cash Dividend
Marine Products Corporation (NYSE: MPX) has declared a 25% increase in its regular quarterly cash dividend from $0.08 to $0.10 per share.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
Details
News Market Reaction – MPX
The recorded move for MPX in the trading session of this news was -2.48%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
View original content:http://www.prnewswire.com/news-releases/marine-products-corporation-announces-25-percent-increase-in-regular-quarterly-cash-dividend-301215711.html
SOURCE Marine Products Corporation
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.