Gorman-Rupp Co Declares Quarterly Dividend of $0.14 (GRC)

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Gorman-Rupp Co (NYSE:GRC) announced a quarterly dividend on Monday, January 28th, Wall Street Journal reports. Investors of record on Friday, February 15th will be given a dividend of 0.135 per share by the industrial products company on Friday, March 8th. This represents a $0.54 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, February 14th.

Gorman-Rupp has raised its dividend by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 46 years. Gorman-Rupp has a payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings.

GRC opened at $33.04 on Friday. Gorman-Rupp has a 1-year low of $26.53 and a 1-year high of $38.26. The firm has a market capitalization of $863.01 million, a P/E ratio of 21.09 and a beta of 0.95.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 8th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Gorman-Rupp had a return on equity of 12.36% and a net margin of 9.46%. The business had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $100.49 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis.

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Gorman-Rupp Company Profile

The Gorman-Rupp Co engages in the design, manufacture, and global marketing of pumps and pump systems for use in diverse water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating, and air conditioning, military and other liquid-handling applications.

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Dividend History for Gorman-Rupp (NYSE:GRC)

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