Marine Products Corp. stock repurchased in first quarter
ATLANTA – Boat builder Marine Products Corp. (Amex: MPX) reported yesterday a share repurchase for the first quarter of 2004 of 9,100 shares at an average price of $13.02.
The Board of Directors approved a program authorizing the repurchase of up to one million shares on April 25, 2001. The 3-for-2 split effective March 10, 2004 makes the effective number of shares available for repurchase 1.5 million, the company reported in a statement yesterday.
Since the program’s inception, 456,451 shares (number of shares reflects the 3-for-2 split) have been repurchased, and 1,043,549 additional shares may be purchased under this program. The program does not have an expiration date.
Marine Products is a manufacturer of fiberglass boats, including Chaparral pleasure boats and Robalo sport fishing boats.
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