Marine Products Corporation (MPX) to Issue Quarterly Dividend of $0.14 on December 10th

Marine Products Corporation (NYSE:MPX) declared a quarterly dividend on Thursday, October 30th. Stockholders of record on Monday, November 10th will be paid a dividend of 0.14 per share on Wednesday, December 10th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, November 10th.

Marine Products has increased its dividend payment by an average of 0.2%per year over the last three years. Marine Products has a dividend 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. Equities research analysts expect Marine Products to earn $0.50 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 112.0%.

Marine Products Trading Down 0.1%

MPX opened at $8.71 on Friday. Marine Products has a 1-year low of $7.49 and a 1-year high of $10.32. The business has a 50 day moving average of $8.87 and a 200-day moving average of $8.69. The stock has a market capitalization of $304.67 million, a price-to-earnings ratio of 21.76 and a beta of 0.97.

Marine Products (NYSE:MPX) last posted its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $53.15 million for the quarter, compared to analyst estimates of $54.80 million. Marine Products had a return on equity of 10.98% and a net margin of 6.26%. Equities analysts predict that Marine Products will post 0.4 EPS for the current year.

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.