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.
News Market Reaction – MPX
In the trading session that priced this news, MPX declined 13.22%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATLANTA, July 29, 2020 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of
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
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SOURCE Marine Products Corporation