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SOURCE Marine Products Corporation
ATLANTA, Oct. 23, 2013 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.03 per share. In addition, the Board declared a special year-end dividend of $0.03 per common share. Both dividends will be paid December 10, 2013 to shareholders of record at the close of business November 8, 2013.
"The decision of our Board of Directors to pay a special year-end dividend represents a prudent use of capital to reward our shareholders for their support of our company," stated Richard Hubbell, Chief Executive Officer of Marine Products Corporation. "Our balance sheet remains strong and liquid following the payment of this dividend and will continue to support our sales growth and allow us to pursue strategic opportunities to enhance our shareholder value over the long term."
Marine Products Corporation (NYSE: MPX) designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats; Premiere Sport Yachts; and Robalo sport fishing boats, continues to diversify its product line through product innovation and is prepared to consider strategic acquisition targets. With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. For more information on Marine Products Corporation visit our website at www.marineproductscorp.com.
For information contact:
BEN M. PALMER
Chief Financial Officer
Vice President, Corporate Finance
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