UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
washington, d.c. 20549
FORM 8-K |
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): October 24, 2018
MARINE PRODUCTS CORPORATION
(Exact name of registrant as specified in
its charter)
_________________________
Delaware | 1-16263 | 58-2572419 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2801 Buford Highway NE, Suite 520, Atlanta,
Georgia 30329
(Address of principal executive office) (zip code)
Registrant's telephone number, including
area code: (404) 321-7910
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events.
On October 24, 2018, Marine Products Corporation issued a press release titled, "Marine Products Corporation Announces Regular Quarterly Cash Dividend and Special Year-End Cash Dividend." The press release announced that the Board of Directors declared a dividend of $0.10 per share plus a special year-end cash dividend of $0.10 per share, both payable December 10, 2018 to common stockholders of record at the close of business on November 9, 2018.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits. |
Exhibit 99 - Press Release dated October 24, 2018.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Marine Products Corporation has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Marine Products Corporation | |
Date: October 24, 2018 | /s/ Ben M. Palmer |
Ben M. Palmer | |
Vice President, | |
Chief Financial Officer and Treasurer |
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Exhibit 99
Marine Products Corporation Announces Regular Quarterly
Cash Dividend and Special Year-End Cash Dividend
ATLANTA, October 24, 2018 - Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share. In addition, the Board declared a special year-end dividend of $0.10 per share. Both dividends will be paid December 10, 2018 to shareholders of record at the close of business November 9, 2018.
“Marine Products Corporation’s regular quarterly dividend continues the high dividend level established during the first quarter of 2018, and our special year-end dividend is 100 percent higher than the special year-end dividend we paid last year. Our Board of Directors continues to believe that a high dividend level 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.
Marine Products Corporation (NYSE: MPX) designs, manufactures and distributes premium-branded Chaparral sterndrive, jet drive and outboard pleasure boats, and Robalo outboard sport fishing boats. The Company continues to diversify its product lines through product innovation. 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
(404) 321-7910
irdept@marineproductscorp.com
JIM LANDERS
Vice President, Corporate Finance
(404) 321-2162
jlanders@marineproductscorp.com