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

Marine Products Co. (NYSE:MPX) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.14 per share on Tuesday, September 10th. This represents a $0.56 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, August 9th.

Marine Products has increased its dividend by an average of 15.9% per year over the last three years. Marine Products has a dividend payout ratio of 74.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marine Products to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 74.7%.

Marine Products Stock Performance

Shares of MPX opened at $10.43 on Friday. The firm has a market cap of $361.71 million, a P/E ratio of 10.33 and a beta of 1.24. Marine Products has a fifty-two week low of $8.96 and a fifty-two week high of $17.81. The business has a 50-day moving average of $10.08 and a 200 day moving average of $10.63.

Marine Products (NYSE:MPX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $69.34 million for the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.29%. As a group, research analysts predict that Marine Products will post 0.6 earnings per share for the current fiscal 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.