Quick Hits: August 17, 2020

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Patrick Industries Inc. announced that on Aug. 13, its board of directors declared a quarterly cash dividend of $0.25 per share of common stock. The dividend is payable on Sept. 14, according to a statement. "Momentum in our RV and marine markets continues to be strong, reflecting the value proposition of outdoor recreation and the ability to spend quality time with family and friends in a Covid and post-Covid environment,” said Patrick CEO Andy Nemeth in a separate statement discussing second-quarter earnings, released last month. 

Earlier this month, Massachusetts Gov. Charlie Baker warned that an abundance of gatherings that ignore social distancing guidelines would lead to some changes in state guidelines in dealing with Covid-19. “I think from our point of view, if we continue to see rises in positive test rates, we’re going to have to make some changes,” Baker said. The governor made good on his promise and has now banned raft-ups in a memorandum on boating on the state’s waterways. In addition to outlining social distancing rules at boat ramps, parking areas and more, the memo states that all recreational crafts will now have to “remain a safe distance apart [and] rafting-up … is prohibited.” 


Freedom Boat Club Expands

Through November, it has grown to more than 245 locations serving more than 55,000 members.

BRP Announces FY21, Q3 Results

While the North American market saw solid gains in the powersports segment, pandemic-related shutdowns and the retirement of Evinrude had a big impact on revenue.

Quick Hits: November 25, 2020

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial} span.s1 {font-kerning: none} Patrick hires a new CFO; CMC Marine joins NMMA; Dometic makes names new HR VP; and Stingray Boats earns a safety milestone.

Wholesale Shipments Drop in September

NMMA: Easing supply chain constraints should enable more manufacturers to build boats.

Dealers: What’s Your 2021 Retail Outlook?

The monthly Pulse Report asks marine retailers to weigh in on November market conditions.