Up 550.3% Since Our Buy Signal, Marine
Product Corporation Announces Stock Repurchased in 1st Qtr
2004
04/23/2004
A 550.3% return is what subscribers have been rewarded with
after buying Marine Products when we released our buy signal
for the company. On Monday the company released this update
of their stock buyback program:
ATLANTA, April 19 /PRNewswire-FirstCall/
-- Marine Products Corporation (Amex: MPX - News) today announced
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. 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 leading manufacturer of fiberglass boats,
including Chaparral pleasure boats and Robalo sport fishing
boats. Marine Products Corporation's investor Web site can
be found on the Internet at www.marineproductscorp.com.
Contacts:
Ben M. Palmer
Chief Financial Officer
404.321.7910
irdept@marineproductscorp.com
Jim Landers
Corporate Finance
404.321.2162
SOURCE: Marine Products Corporation
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