Gorman-Rupp Company Declares Cash Dividend, Announces Date of the Annual Meeting of Shareholders & Announces Board of Directo...
January 24 2020 - 6:30AM
Business Wire
The Board of Directors of The Gorman-Rupp Company (NYSE: GRC)
has declared a quarterly cash dividend of $0.145 per share on the
common stock of the Company, payable March 10, 2020, to
shareholders of record as of February 14, 2020. This will mark the
280th consecutive quarterly dividend paid by The Gorman-Rupp
Company.
Other action taken by the Board of Directors of The Gorman-Rupp
Company was the announcement of the Annual Meeting of Shareholders
scheduled to be held Thursday, April 23, 2020, and the related
establishment of the close of business on March 2, 2020 as the
record date for shareholders entitled to notice of and to vote at
the meeting. The meeting will be held at 10:00 A.M., Eastern time
at the Company’s Corporate Headquarters, 600 South Airport Road,
Mansfield, Ohio 44903.
Thomas E. Hoaglin has notified the Company that he will not
stand for re-election as a Director at the Company’s 2020 Annual
Meeting of Shareholders, when his term will expire. Mr. Hoaglin,
70, has served as a Director of the Company since 1993 and
previously served as a Director from 1986-1989.
About The Gorman-Rupp Company
Founded in 1933, The Gorman-Rupp Company is a leading designer,
manufacturer and international marketer of pumps and pump systems
for use in diverse water, wastewater, construction, dewatering,
industrial, petroleum, original equipment, agriculture, fire
protection, heating, ventilating and air conditioning (HVAC),
military and other liquid-handling applications.
Forward-Looking Statements
In connection with the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, The Gorman-Rupp Company
provides the following cautionary statement: This news release
contains various forward-looking statements based on assumptions
concerning The Gorman-Rupp Company’s operations, future results and
prospects. These forward-looking statements are based on current
expectations about important economic, political, and technological
factors, among others, and are subject to risks and uncertainties,
which could cause the actual results or events to differ materially
from those set forth in or implied by the forward-looking
statements and related assumptions. Such factors include, but are
not limited to: (1) continuation of the current and projected
future business environment; (2) highly competitive markets; (3)
availability and costs of raw materials, and our ability to
mitigate cost increases through selling price adjustments; (4) loss
of key management; (5) cyber security threats; (6) acquisition
performance and integration; (7) compliance with, and costs related
to, a variety of import and export laws and regulations; (8)
environmental compliance costs and liabilities; (9) exposure to
fluctuations in foreign currency exchange rates; (10) conditions in
foreign countries in which The Gorman-Rupp Company conducts
business; (11) changes in our tax rates and exposure to additional
income tax liabilities; (12) impairment in the value of intangible
assets, including goodwill; (13) defined benefit pension plan
settlement expense; (14) family ownership of common equity; and
(15) risks described from time to time in our reports filed with
the Securities and Exchange Commission. Except to the extent
required by law, we do not undertake and specifically decline any
obligation to review or update any forward-looking statements or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments or
otherwise.
Brigette A. Burnell Corporate Secretary The Gorman-Rupp Company
Telephone (419) 755-1246 NYSE: GRC
For additional information, contact James C. Kerr, Chief
Financial Officer, Telephone (419) 755-1548.
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version on businesswire.com: https://www.businesswire.com/news/home/20200124005034/en/
James C. Kerr, Chief Financial Officer (419) 755-1548
Gorman Rupp (NYSE:GRC)
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