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

Marine Products Co. (NYSE:MPX) declared a quarterly dividend on Thursday, January 30th,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 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Monday, February 10th.

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

Marine Products Price Performance

Shares of MPX stock opened at $9.37 on Friday. The firm’s 50-day moving average is $9.34 and its two-hundred day moving average is $9.55. Marine Products has a 12 month low of $8.67 and a 12 month high of $12.47. The company has a market capitalization of $325.23 million, a PE ratio of 17.68 and a beta of 1.23.

Marine Products (NYSE:MPX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. Sell-side analysts forecast that Marine Products will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research report 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.