Marine Products Corp (MPX) will raise its quarterly dividend by 42.9 percent to $0.10 per share in the first quarter of 2018.

The increased dividend is payable March 9, 2018 to common stockholders of record at the close of business on February 9, 2018.

Marine Products Corporation designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The company's products include the  premium-branded Chaparral sterndrive, jet drive and outboard pleasure boats, and Robalo outboard sport fishing boats.