Marine Products Corporation (MPX) To Go Ex-Dividend on May 8th

Marine Products Corporation (NYSE:MPX) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, May 8th will be given a dividend of 0.14 per share on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, May 8th.

Marine Products has increased its dividend by an average of 0.1%per year over the last three years. Marine Products has a payout ratio of 112.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Marine Products Price Performance

Shares of MPX opened at $8.05 on Wednesday. Marine Products has a one year low of $6.83 and a one year high of $10.08. The company has a market cap of $283.75 million, a P/E ratio of 25.16 and a beta of 1.11. The firm has a 50 day simple moving average of $7.49 and a two-hundred day simple moving average of $8.33.

Marine Products (NYSE:MPX) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Marine Products had a net margin of 4.66% and a return on equity of 9.84%. The business had revenue of $64.57 million during the quarter, compared to the consensus estimate of $55.00 million.

About Marine Products

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.