Form 8-K MARINE PRODUCTS CORP For: Oct 28
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 28, 2015
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, 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):
| ¨ | 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) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On October 28, 2015, Marine Products Corporation issued a press release titled, "Marine Products Corporation Announces Regular Quarterly and Special Year-End Cash Dividends." The press release announced that the Board of Directors declared a regular quarterly cash dividend of $0.04 per share and a special year-end dividend of $0.04, both payable on December 10, 2015 to shareholders of record at the close of business November 10, 2015.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. | |
| Exhibit 99 - Press Release dated October 28, 2015. | ||
| -2- |
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, 2015 | /s/ Ben M. Palmer |
| Ben M. Palmer | |
| Vice President, | |
| Chief Financial Officer and Treasurer |
| -3- |
Exhibit 99
Marine Products Corporation Announces Regular Quarterly
and Special Year-End Cash Dividends
ATLANTA, October 28, 2015 - Marine Products Corporation (NYSE: MPX) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.04 per share. In addition, the Board declared a special year-end dividend of $0.04 per common share. Both dividends will be paid December 10, 2015 to shareholders of record at the close of business November 10, 2015.
“The decision of our Board of Directors to pay our fourth consecutive special year-end dividend represents a prudent use of capital to reward our shareholders for their support of our company,” stated Richard Hubbell, President and Chief Executive Officer of Marine Products Corporation. “Our balance sheet has continued to remain strong and liquid following these dividends 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, jet drive and outboard pleasure boats, and Robalo offshore 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
JIM LANDERS
Vice President, Corporate Finance
(404) 321-2162