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

Rhea-AI Summary

The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.155 per share, payable on March 10, 2021, to shareholders of record as of February 12, 2021. This marks the 284th consecutive quarterly dividend. Additionally, the Annual Meeting of Shareholders will take place virtually on April 22, 2021, with a record date of March 1, 2021 for eligible shareholders.

Positive

• Quarterly cash dividend of $0.155 per share demonstrates a commitment to returning value to shareholders.
• 284 consecutive quarterly dividends highlight the company's stable financial performance.

Negative

• None.

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 March 10, 2021, to shareholders of record as of February 12, 2021. This will mark the 284th 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 22, 2021, and the related establishment of the close of business on March 1, 2021 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210129005020/en/

FAQ

What is the dividend amount announced by Gorman-Rupp for March 2021?

The Gorman-Rupp Company announced a quarterly cash dividend of $0.155 per share for March 2021.

When will the Gorman-Rupp dividend be paid?

The dividend will be paid on March 10, 2021.

What is the record date for Gorman-Rupp's dividend?

The record date for the dividend is February 12, 2021.

When is the Annual Meeting of Shareholders for Gorman-Rupp?

The Annual Meeting of Shareholders is scheduled for April 22, 2021.

How many consecutive dividends has Gorman-Rupp paid?

Gorman-Rupp has paid 284 consecutive quarterly dividends.