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, payable on June 9, 2023, to shareholders on record by the close of business on May 10, 2023.

The company is a prominent manufacturer of fiberglass boats under the brands Chaparral and Robalo. Its product range includes sterndrive models, outboard offerings, and a variety of fishing boats. Marine Products Corporation is committed to diversifying its product lines through innovation, leveraging a solid capital structure and a strong dealer network to enhance its market share and financial performance, ultimately focusing on long-term shareholder value.

Positive

• Declared a quarterly cash dividend of $0.14 per share.
• Strong capital structure supports potential for increased market share.
• Diverse product lines with premium brands enhance competitive position.

Negative

• None.

News Market Reaction – MPX

+1.82%

+1.82% Session move

In the trading session that priced this news, MPX gained 1.82%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ATLANTA, April 26, 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 June 9, 2023 to common stockholders of record at the close of business on May 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 announced by Marine Products Corporation?

Marine Products Corporation announced a dividend of $0.14 per share.

When is the dividend payment for MPX scheduled?

The dividend payment for MPX is scheduled for June 9, 2023.

What is the record date for the dividend payment for MPX?

The record date for the dividend payment is May 10, 2023.

How does Marine Products Corporation plan to increase its market share?

Marine Products Corporation aims to increase its market share through product innovation and a strong dealer network.