UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
washington, d.c. 20549
FORM |
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
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area code: (
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
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):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
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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
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. ¨
Item 8.01 | Other Events. |
On October 28, 2020, 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 $0.08 per share plus a special year-end cash dividend of $0.04 per share, both payable December 10, 2020 to common stockholders of record at the close of business on November 10, 2020.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit 99 - Press Release dated October 28, 2020.
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 28, 2020 | /s/ Ben M. Palmer | |
Ben M. Palmer | ||
Vice President and Chief Financial Officer |
Exhibit 99
Marine Products Corporation Announces Regular Quarterly
Cash Dividend and Special Year-End Cash Dividend
ATLANTA, October 28, 2020 - Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.08 per share. In addition, the Board declared a special year-end cash dividend of $0.04 per share. Both dividends will be paid December 10, 2020 to common stockholders of record at the close of business on November 10, 2020.
Marine Products Corporation (NYSE: MPX) is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral’s sterndrive models include SSi and SSX, along with the Chaparral Surf Series. Chaparral’s outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name. 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 MarineProductsCorp.com.
For information contact:
BEN M. PALMER
Chief Financial Officer
(404) 321-7910
irdept@marineproductscorp.com
JIM LANDERS
Vice President Corporate Services
(404) 321-2162
jlanders@marineproductscorp.com
Cover |
Oct. 28, 2020 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Oct. 28, 2020 |
Entity File Number | 1-16263 |
Entity Registrant Name | MARINE PRODUCTS CORPORATION |
Entity Central Index Key | 0001129155 |
Entity Tax Identification Number | 58-2572419 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 2801 Buford Highway NE |
Entity Address, Address Line Two | Suite 300 |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30329 |
City Area Code | 404 |
Local Phone Number | 321-7910 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.10 par value |
Trading Symbol | MPX |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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