Marine Products Co. (NYSE:MPX – Get Free Report) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Friday, August 9th will be given 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 raised its dividend payment by an average of 15.9% annually 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 Trading Up 5.6 %
MPX opened at $10.43 on Friday. The company’s 50 day moving average is $10.08 and its 200 day moving average is $10.63. The company has a market cap of $361.71 million, a price-to-earnings ratio of 10.33 and a beta of 1.24. Marine Products has a 12-month low of $8.96 and a 12-month high of $17.81.
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.
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