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

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders 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 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% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.6 %

Shares of GRC traded up $0.60 during mid-day trading on Tuesday, reaching $38.01. 80,635 shares of the stock traded hands, compared to its average volume of 55,414. The stock has a fifty day simple moving average of $39.55 and a 200 day simple moving average of $39.08. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a market cap 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. Gorman-Rupp has a 12-month low of $30.47 and a 12-month high of $43.79.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report 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.