ATLANTA, Oct. 25, 2016 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) (the "Company"), a leading manufacturer of fiberglass boats, today announced that it is extending the term of its previously announced tender offer (the "Tender Offer") and raising the offer price at which it is willing to purchase shares. The original expiration date of the Tender Offer of 11:59 p.m., New York City time, on November 1, 2016 has been extended to 11:59 p.m., New York City time, on November 11, 2016. The original offer price of $9.00 per share has been increased to $9.64 per share. Shareholders who previously tendered shares under the previously announced Tender Offer will receive the increased $9.64 per share offer price. All other terms and conditions of the Tender Offer, outlined in materials filed by the Company as part of the statement on Schedule TO and other documents filed with the Securities and Exchange Commission ("SEC") remain the same. Shareholders are encouraged to review these materials made available on the SEC's website at www.sec.gov. Shareholders may also obtain copies of the materials for free from the Company at 2801 Buford Highway NE, Suite 520, Atlanta, Georgia 30329, (404) 321-7910, and from the information agent for the tender offer, D. F. King & Co., Inc., at 48 Wall Street, 22nd Floor, New York, NY 10005, USA, toll-free at (800) 290-6426.
In addition, the Company announced today that its Board of Directors declared a regular quarterly cash dividend of $0.06 per share payable December 9, 2016 to common stockholders of record at the close of business on November 10, 2016. All shareholders of record on November 10, 2016, including those who tender their shares to the Company pursuant to the Tender Offer, will receive this cash dividend on December 9, 2016.