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Quick Hits: August 17, 2020

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.” 


Battle on the Great Lakes Rages On

The Icebreaker Wind Turbine Development faces strong headwinds from boating and fishing groups.

Limestone Boat Co. Expands Dealer Network

The company adds four new dealers to its roster, with three to represent Aquasport Boats.

NMEA Announces ‘22 Training Course Schedule

For next year, marine training courses will be offered as virtual and in-person sessions for basic marine electronics installers, and in-person only for advanced installers.

GM Invests $150M in Electric Boat Start-Up

General Motors has acquired a 25-percent stake in Pure Watercraft, a Seattle-based e-propulsion outfit.

Patrick Acquires Marine and RV Seating Maker

The Elkhart, Ind.-based component manufacturer finalized its purchase of Williamsburg Marine and Williamsburg Furniture.

Dealers: Tell Us Your 2022 Retail Outlook

Our monthly Pulse Report survey asks dealers for their outlooks on 2022 retail sales.