The Gorman-Rupp Company (NYSE:GRC – Get Free Report) announced a quarterly dividend on Friday, April 26th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.18 per share by the industrial products company on Monday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, May 14th.
Gorman-Rupp has increased its dividend payment by an average of 6.1% annually over the last three years and has raised its dividend every year for the last 51 years. Gorman-Rupp has a payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gorman-Rupp to earn $1.87 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 38.5%.
Gorman-Rupp Stock Up 6.1 %
NYSE:GRC traded up $1.93 during trading hours on Friday, hitting $33.38. The company’s stock had a trading volume of 186,201 shares, compared to its average volume of 91,410. The stock has a market capitalization of $875.16 million, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The stock has a fifty day moving average of $37.29 and a 200-day moving average of $34.48. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09. Gorman-Rupp has a 52-week low of $23.62 and a 52-week high of $40.00.
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.
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