Gorman-Rupp Company Declares Cash Dividend and Announces Date of the Annual Meeting

Rhea-AI Summary

Gorman-Rupp Company (NYSE: GRC) has announced its quarterly cash dividend of $0.185 per share, payable March 10, 2025, to shareholders of record February 14, 2025. This marks the company's 300th consecutive quarterly dividend payment, demonstrating a strong history of shareholder returns.

The company also announced its Annual Meeting of Shareholders, scheduled for April 24, 2025, at 10:00 a.m. Eastern time. The meeting will be held virtually via webcast, with February 24, 2025, set as the record date for shareholder voting eligibility.

Positive

• 300th consecutive quarterly dividend payment demonstrates consistent shareholder returns
• Maintains steady dividend of $0.185 per share

Negative

• None.

MANSFIELD, Ohio--(BUSINESS WIRE)-- The Board of Directors of The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.185 per share on the common shares of the Company, payable March 10, 2025, to shareholders of record February 14, 2025. This action will mark the 300^th 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 24, 2025, and the related establishment of the close of business on February 24, 2025 as the record date for shareholders entitled to notice of and to vote at the meeting. The meeting will be in a virtual format only via webcast at 10:00 a.m. Eastern time.

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 suppression, 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 uncertainties include, but are not limited to, our estimates of future earnings and cash flows, general economic conditions and supply chain conditions and any related impact on costs and availability of materials, retention of supplier and customer relationships and key employees, and the ability to service and repay indebtedness. Other factors include, but are not limited to: company specific risk factors including (1) loss of key personnel; (2) intellectual property security; (3) acquisition performance and integration; (4) the Company’s indebtedness and how it may impact the Company’s financial condition and the way it operates its business; (5) general risks associated with acquisitions; (6) the anticipated benefits from the Fill-Rite transaction may not be realized; (7) impairment in the value of intangible assets, including goodwill; (8) defined benefit pension plan settlement expense; (9) LIFO inventory method, and (10) family ownership of common equity; and general risk factors including (11) continuation of the current and projected future business environment; (12) highly competitive markets; (13) availability and costs of raw materials and labor; (14) cyber security threats; (15) compliance with, and costs related to, a variety of import and export laws and regulations; (16) environmental compliance costs and liabilities; (17) exposure to fluctuations in foreign currency exchange rates; (18) conditions in foreign countries in which The Gorman-Rupp Company conducts business; (19) changes in our tax rates and exposure to additional income tax liabilities; and (20) 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250127523874/en/

Brigette A. Burnell

Corporate Secretary

The Gorman-Rupp Company

Telephone (419) 755-1246

For additional information, contact James C. Kerr, Chief Financial Officer, Telephone (419) 755-1548.

Source: The Gorman-Rupp Company

FAQ

When will Gorman-Rupp (GRC) pay its next dividend?

Gorman-Rupp will pay its quarterly dividend of $0.185 per share on March 10, 2025, to shareholders of record as of February 14, 2025.

How many consecutive quarterly dividends has GRC paid?

The upcoming dividend payment marks Gorman-Rupp's 300th consecutive quarterly dividend payment.

When is Gorman-Rupp's 2025 Annual Shareholder Meeting?

Gorman-Rupp's Annual Shareholder Meeting is scheduled for Thursday, April 24, 2025, at 10:00 a.m. Eastern time via virtual webcast.

What is the record date for GRC's 2025 Annual Meeting voting eligibility?

The record date for shareholders entitled to vote at the 2025 Annual Meeting is February 24, 2025.