The Gorman-Rupp Company Announces Quarterly Dividend of $0.18 (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Friday, July 26th, NASDAQ reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.18 per share by the industrial products company on Tuesday, September 10th. This represents a $0.72 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, August 15th.

Gorman-Rupp has increased its dividend by an average of 6.1% per year over the last three years and has increased its dividend annually for the last 51 consecutive years. Gorman-Rupp has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gorman-Rupp to earn $1.98 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 36.4%.

Gorman-Rupp Stock Performance

NYSE:GRC opened at $37.51 on Wednesday. The firm’s fifty day simple moving average is $37.96 and its 200-day simple moving average is $36.54. The company has a quick ratio of 1.33, a current ratio of 2.45 and a debt-to-equity ratio of 1.05. The stock has a market cap of $983.17 million, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94. Gorman-Rupp has a fifty-two week low of $28.87 and a fifty-two week high of $42.24.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

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.