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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.” 



NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.


Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.


Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.


Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.


NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.


DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.


EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.


Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.