Marine Products Co. (NYSE:MPX) to Issue $0.14 Quarterly Dividend

Marine Products Co. (NYSE:MPX) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.14 per share on Monday, March 10th. This represents a $0.56 annualized dividend and a yield of 5.98%. The ex-dividend date is Monday, February 10th.

Marine Products has raised its dividend payment by an average of 6.8% annually over the last three years.

Marine Products Price Performance

Shares of NYSE:MPX traded down $0.12 during trading on Friday, reaching $9.37. 37,478 shares of the company were exchanged, compared to its average volume of 31,259. The firm has a market capitalization of $325.23 million, a PE ratio of 17.68 and a beta of 1.23. The business’s fifty day simple moving average is $9.35 and its 200-day simple moving average is $9.55. Marine Products has a 12-month low of $8.67 and a 12-month high of $12.47.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. On average, sell-side analysts anticipate that Marine Products will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

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

Marine Products Company Profile

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.