Pleasure boat manufacturer Marine Products (NYSE:MPX) announced today its third-quarter dividend of $0.03 per share, the same rate it's paid for the past two quarters after raising the payout 50% from $0.02 per share.
The board of directors said the quarterly dividend is payable on Sept. 10 to the holders of record at the close of business on Aug. 9. The boat maker has made quarterly payouts to investors since 2001 but suspended payments in 2009 during the depths of the economic crisis. It reinstated the payout last year and paid a special dividend of $0.57 per share in November 2012.
The regular dividend payment equates to a $0.12-per-share annual dividend, yielding 1.3% based on the closing price today of Marine Products' stock.
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