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.
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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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