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

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given 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 dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th.

Gorman-Rupp has increased its dividend by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Gorman-Rupp has a dividend payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 1.6 %

Shares of GRC stock opened at $38.01 on Wednesday. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. The firm’s fifty day simple moving average is $39.50 and its 200 day simple moving average is $39.07. The firm has a market capitalization of $996.98 million, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

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

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.