The Gorman-Rupp Company (NYSE:GRC) Announces Quarterly Dividend of $0.19

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.185 per share by the industrial products company on Monday, March 10th. This represents a $0.74 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th.

Gorman-Rupp has raised its dividend payment by an average of 4.5% per year over the last three years and has raised its dividend every year for the last 11 years. Gorman-Rupp has a payout ratio of 32.9% meaning 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 $0.74 annual dividend with an expected future payout ratio of 37.4%.

Gorman-Rupp Stock Performance

Shares of GRC traded up $0.60 during trading hours on Tuesday, reaching $38.01. 80,636 shares of the company’s stock traded hands, compared to its average volume of 55,414. Gorman-Rupp has a twelve month low of $30.47 and a twelve month high of $43.79. The business’s fifty day simple moving average is $39.55 and its two-hundred day simple moving average is $39.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The firm has a market capitalization of $996.98 million, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.49 and a beta of 0.97.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th.

About Gorman-Rupp

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.