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

Gorman-Rupp Co (NYSE:GRC) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.135 per share by the industrial products company on Monday, June 10th. This represents a $0.54 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, May 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 dividend payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings.

NYSE:GRC traded up $0.33 during midday trading on Monday, reaching $33.45. 39,424 shares of the company traded hands, compared to its average volume of 47,589. Gorman-Rupp has a twelve month low of $29.94 and a twelve month high of $38.26. The firm has a market capitalization of $868.62 million, a P/E ratio of 20.44 and a beta of 0.96.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.10). Gorman-Rupp had a net margin of 9.07% and a return on equity of 12.94%. The company had revenue of $96.90 million for the quarter, compared to analyst estimates of $105.30 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year.

In related news, Director Christopher H. Lake sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $33.07, for a total transaction of $66,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.40% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Gorman-Rupp Co (GRC) to Issue Quarterly Dividend of $0.14” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2019/04/29/gorman-rupp-co-grc-to-issue-quarterly-dividend-of-0-14.html.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.

Read More: How to calculate compound interest

Dividend History for Gorman-Rupp (NYSE:GRC)

Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.