Gorman-Rupp (GRC) Declares $2.00 Special Dividend; 6.5% Yield
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Gorman-Rupp Company Announces Special Cash Dividend of $2.00 Per Share and an 8.0% Increase in Regular Quarterly Cash Dividend
October 26, 2018 6:45 AM EDTMANSFIELD, Ohio--(BUSINESS WIRE)-- The Board of Directors of The Gorman-Rupp Company (NYSE: GRC) has declared a special cash dividend of $2.00 per share on the common stock of the Company, payable December 10, 2018, to shareholders of record November 15, 2018. The aggregate payment will be approximately $52 million paid from cash on hand.
The Board of Directors also has declared a quarterly cash dividend of $0.135 per share on the common stock of the Company, payable December 10, 2018, to shareholders of record November 15, 2018. This cash dividend will represent an 8.0% increase over the dividend paid in the previous quarter. This... More
