Marine Products Co. Announces Quarterly Dividend of $0.14 (NYSE:MPX)

Marine Products Co. (NYSE:MPX) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be given a dividend of 0.14 per share on Monday, March 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, February 10th.

Marine Products has increased its dividend payment by an average of 6.8% per year over the last three years.

Marine Products Price Performance

NYSE:MPX traded down $0.12 during mid-day trading on Friday, hitting $9.37. The company’s stock had a trading volume of 37,478 shares, compared to its average volume of 31,259. The business’s fifty day moving average is $9.35 and its two-hundred day moving average is $9.55. The stock has a market cap of $325.23 million, a price-to-earnings ratio of 17.68 and a beta of 1.23. Marine Products has a 1 year low of $8.67 and a 1 year high of $12.47.

Marine Products (NYSE:MPX) last issued its earnings results on Thursday, January 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. Analysts anticipate that Marine Products will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Marine Products from a “hold” rating to a “buy” rating in a research note on Friday.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.