Coast suspends quarterly dividend

Posted on

Coast Distribution today announced that the company’s board of directors has suspended the quarterly cash dividend because of continued economic conditions.

Coast, a supplier of aftermarket replacement parts, accessories and supplies for the marine, recreational vehicle and outdoor recreation industries, reported the dividend suspension will save the company approximately $535,000 annually.

“This suspension follows several other actions taken this year to significantly lower costs and enhance liquidity,” said CEO Jim Musbach, in a statement. “Since November 2007, we have reduced our staffing levels by 15 percent. We have also replaced our annual Las Vegas dealer trade show with a new, more efficient online sales program.”

The board intends to consider future dividends based upon the company’s ongoing financial results.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

Will you be attending IBEX and the Fort Lauderdale International Boat Show?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password