Form 8-K MARINE PRODUCTS CORP For: Oct 29
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UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
washington, d.c. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): October 29, 2014
MARINE PRODUCTS CORPORATION
(Exact name of registrant as specified in its charter)
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| Delaware | 1-16263 | 58-2572419 |
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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2801 Buford Highway, Suite 520, Atlanta, Georgia
30329
(Address of principal executive office) (zip code)
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Registrant's telephone number, including area
code: (404) 321-7910
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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):
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| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 8.01 ��Other Events.
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On October 29, 2014, 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 $0.03 per share and a special year-end dividend of $0.04, both payable on December 10, 2014 to shareholders of record at the close of business November 10, 2014.
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Item 9.01 ��Financial Statements and Exhibits.
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| (d) | Exhibits. | |
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| � | Exhibit 99 - Press Release dated October 29, 2014. | |
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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.
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| � | � | Marine Products Corporation |
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| Date: October 29, 2014 | � | /s/ Ben M. Palmer |
| � | � | Ben M. Palmer Vice President, |
| � | � | Chief Financial Officer and Treasurer |
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Exhibit 99
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Marine Products Corporation Announces Regular Quarterly
and Special Year-End Cash Dividends
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ATLANTA, October 29, 2014 - 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 $0.04 per common share. �Both dividends will be paid December 10, 2014 to shareholders of record at the close of business November 10, 2014.
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“The decision of our Board of Directors to pay our third 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.”
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Marine Products Corporation (NYSE: MPX) designs, manufactures and distributes premium-branded Chaparral sterndrive and jet drive pleasure boats, and Robalo outboard sport fishing and bay boats, and 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.
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For information contact:
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BEN M. PALMER
Chief Financial Officer
(404) 321-7910
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JIM LANDERS
Vice President, Corporate Finance
(404) 321-2162