The Gorman-Rupp Company (NYSE:GRC – Get Free Report) declared a quarterly dividend on Friday, April 26th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.18 per share by the industrial products company on Monday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, May 14th.
Gorman-Rupp has raised its dividend payment by an average of 6.1% per year over the last three years and has increased its dividend every year for the last 51 years. Gorman-Rupp has a payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gorman-Rupp to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 38.5%.
Gorman-Rupp Trading Up 6.1 %
Shares of GRC opened at $33.38 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.35 and a quick ratio of 1.31. The firm has a 50 day simple moving average of $37.20 and a 200-day simple moving average of $34.48. Gorman-Rupp has a 1-year low of $23.62 and a 1-year high of $40.00. The stock has a market cap of $875.22 million, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. 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.
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