FORT LAUDERDALE, Fla.,
Feb. 28, 2022 /PRNewswire/ -- Ocean
Bio-Chem, Inc. (NASDAQ: OBCI), the premier manufacturer and
distributor for specialty chemicals in the marine, automotive,
recreational vehicle and home care markets, today announced that
the Company's Board of Directors approved a quarterly regular
dividend increase of 33 percent and declared a regular quarterly
dividend of $0.04 per share on the
Company's Common Stock. The Company will now pay an annual regular
dividend of $0.16 per share. The
dividend is payable on March 25,
2022, to the Company's Common Stock Shareholders on record
on March 10, 2022.
The Company will be reporting full year 2021 financial results
on March 31, 2022.
Peter Dornau, Chairman, President
& CEO stated "Today's quarterly dividend increase to
$0.04 per share represents a 33%
increase in our regular dividend from 2021 and a 100% increase from
our quarterly dividend of $0.02 that
began in 2020. This continued return to shareholders is consistent
with our long-term goal of delivering exceptional results to all of
our stakeholders."
About the Company
Ocean Bio-Chem, Inc. is principally
engaged in the manufacturing, marketing, and distribution of
appearance, performance and maintenance products for the marine,
automotive, power sports, recreational vehicle, home care and
outdoor power equipment markets, under the Star brite® and
Star Tron® brand names. The Company sells these products
within the United States and
Canada. In addition, the Company
produces private label formulation of many of its products for
various customers and provide custom blending and packaging
services for these and other products. The Company also
manufactures, markets and distributes chlorine dioxide-based
deodorizing disinfectant and sanitizing products under the Star
brite® and Performacide® brand names, utilizing a patented delivery
system for use with products containing chlorine dioxide.
Forward Looking Statement:
Certain statements contained in this press release constitute
forward-looking statements, including without limitation continued
return to shareholders is consistent with our long-term goal of
delivering exceptional results to all of our stakeholders."
For this purpose, any statements contained in this release that
are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the generality of the
foregoing, words such as "believe," "may," "will," "expect,"
"anticipate," "intend," or "could," including the negative or other
variations thereof or comparable terminology, are intended to
identify forward-looking statements. These statements are subject
to known and unknown risks, uncertainties and other factors that
may cause actual results to be materially different from those
expressed or implied by such forward-looking statements. Factors
that may affect these results include, but are not limited to, the
highly competitive nature of our industry; reliance on certain key
customers; changes in consumer demand for our products;
expenditures on, and the effectiveness of, our advertising and
promotional efforts; unanticipated litigation developments;
exposure to market risks relating to changes in interest rates,
foreign currency exchange rates and prices for raw materials that
are petroleum or chemical based; adverse changes to unemployment
rates, fuel prices and the economy in general; and other factors
addressed in our annual report on Form 10-K for the year ended
December 31, 2020 and in our
subsequent quarterly reports on Form 10-Q.
Contact:
Peter Dornau
CEO and President
pdornau@starbrite.com
954-587-6280
Jeff Barocas
CFO & Director
Jbarocas@starbrite.com
954-587-6280
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SOURCE Ocean Bio-Chem, Inc.