Marine Products Corporation (NYSE:MPX) to Issue Quarterly Dividend of $0.14

Key Points

• Marine Products declared a quarterly dividend of $0.14 per share, representing an annualized yield of 7.0%; shareholders of record on May 8 will be paid on May 14 (ex-dividend date May 8).
• The dividend appears unsustainable based on operations, with a payout ratio of about 112%, and the company has raised its dividend by only ~0.1% annually over the past three years.
• In the latest quarter MPX reported EPS of $0.10 (in line with estimates) and revenue of $64.57M (above consensus); the stock trades near $7.97 with a market cap of ~$280.8M and a PE of 24.9.

Marine Products Corporation (NYSE:MPX - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be given a dividend of 0.14 per share on Thursday, May 14th. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, May 8th.

Marine Products has raised its dividend payment by an average of 0.1%annually over the last three years. Marine Products has a payout ratio of 112.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Marine Products Trading Up 0.7%

Shares of MPX stock opened at $7.97 on Wednesday. The company has a market capitalization of $280.79 million, a PE ratio of 24.90 and a beta of 1.13. The firm has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $8.35. Marine Products has a twelve month low of $6.83 and a twelve month high of $10.08.

Marine Products (NYSE:MPX - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $64.57 million during the quarter, compared to the consensus estimate of $55.00 million. Marine Products had a net margin of 4.66% and a return on equity of 9.84%.

Marine Products Company Profile

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm's product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.

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