Gorman-Rupp Announces 6.9% Increase in Quarterly Cash Dividend
October 23 2020 - 6:45AM
Business Wire
The Board of Directors of The Gorman-Rupp Company (NYSE:GRC) has
declared a quarterly cash dividend of $0.155 per share on the
common stock of the Company, payable December 10, 2020, to
shareholders of record November 13, 2020. The cash dividend will
represent a 6.9% increase over the $0.145 dividend paid in the
previous quarter.
This action will mark the 283rd consecutive quarterly dividend
paid by The Gorman-Rupp Company and the 48th consecutive year of
increased dividends to its shareholders, which positions
Gorman-Rupp in the top 50 of all U.S. public companies with respect
to number of years of increased dividend payments.
Jeffrey S. Gorman, Chairman, President and CEO commented,
“Gorman-Rupp is extremely proud to continue its long history of
dividend payments and increased annual dividends. This current
dividend increase reflects our ongoing commitment to creating value
for our shareholders, as well as our confidence in the financial
strength and long-term prospects for our Company.”
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, including the duration and scope of
the COVID-19 pandemic, the impact of the pandemic and actions taken
in response to the pandemic; (2) highly competitive markets; (3)
availability and costs of raw materials; (4) loss of key personnel;
(5) cyber security threats; (6) intellectual property security; (7)
acquisition performance and integration; (8) compliance with, and
costs related to, a variety of import and export laws and
regulations; (9) environmental compliance costs and liabilities;
(10) exposure to fluctuations in foreign currency exchange rates;
(11) conditions in foreign countries in which The Gorman-Rupp
Company conducts business; (12) changes in our tax rates and
exposure to additional income tax liabilities; (13) impairment in
the value of intangible assets, including goodwill; (14) defined
benefit pension plan settlement expense; (15) family ownership of
common equity; and (16) 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201023005035/en/
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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