West Marine issues first quarterly dividend

West Marine said its board declared a cash dividend of 5 cents a share on issued and outstanding shares of common stock.
Author:
Updated:
Original:

West Marine said its board declared a cash dividend of 5 cents a share on issued and outstanding shares of common stock.

The dividend is payable May 25 to stockholders of record as of the close of business on May 11. The ex-dividend date is May 9.

The company said it expects to continue the dividend on a quarterly basis for the foreseeable future.

“With the payout of this quarterly dividend, the first in West Marine’s history since going public in 1996, we expect to return approximately $5 million to our stockholders annually,” West Marine CEO Matt Hyde said in a statement. “We are pleased to offer a dividend to our stockholders as we continue to generate strong cash flow driven by our improved generation of cash from operations.”

Related

Windy Boats to Make U.S. Debut with Nautical Ventures

The Florida firm said the Scandinavian brand will complement its other European boat lines.

Beneteau America Names New President

Don Smith joined the French builder in 2018 as outboard sales manager.

Supply and Demand

Facing unprecedented demand, Brunswick plans to reopen its Palm Coast, Fla., plant and expand operations in Mexico and Portugal.

EPropulsion Announces 2021 Lineup

Its electric propulsion offerings now feature hydrogeneration capabilities, 48-volt architecture and more.

Yamaha Updates Midrange Outboards

The F250 and F300 now share features from Yamaha’s 425XTO engine, such as Digital Electric Steering and Thrust Enhancing Reverse Exhaust.

Quick Hits: January 25, 2021

Inmarsat marks significant installation milestone on its Fleet Xpress system and the NMEA announce virtual marine electronics installer training classes for next month.