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

Key Points

• Quarterly dividend of $0.19 declared (annual $0.76), payable June 10 to shareholders of record May 15, implying a dividend yield of about 1.0%.
• Dividend safety and history: Gorman‑Rupp has raised its dividend for 52 consecutive years and carries a payout ratio around 31.9%, with analysts forecasting $2.59 EPS next year (expected payout ≈29.3%), indicating the dividend is well covered.
• Quarterly results beat as the company reported $0.68 EPS vs. $0.49 expected and $176.6M revenue vs. $170.6M, sending the stock up about 3.8% to $77.17.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) declared a quarterly dividend on Friday, April 24th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.19 per share by the industrial products company on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th.

Gorman-Rupp has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 52 years. Gorman-Rupp has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gorman-Rupp to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 29.3%.

Gorman-Rupp Stock Up 3.8%

NYSE:GRC traded up $2.80 during mid-day trading on Friday, reaching $77.17. The company's stock had a trading volume of 689,464 shares, compared to its average volume of 149,202. The company has a quick ratio of 1.39, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. Gorman-Rupp has a 1 year low of $34.60 and a 1 year high of $78.50. The stock has a fifty day moving average of $64.37 and a 200-day moving average of $54.54. The firm has a market capitalization of $2.03 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The business had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. Equities research analysts forecast that Gorman-Rupp will post 2.32 earnings per share for the current year.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.

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