Gorman-Rupp (GRC) Raises Quarterly Dividend 8% to $0.135; 1.8% Yield
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Gorman-Rupp Reports Third Quarter 2018 Financial Results
October 26, 2018 6:45 AM EDTMANSFIELD, Ohio--(BUSINESS WIRE)-- The Gorman-Rupp Company (NYSE: GRC) reports financial results for the third quarter and nine months ended September 30, 2018.
Third Quarter 2018 Highlights
Third quarter earnings per share were $0.41 compared to $0.22 per share for the third quarter of 2017 Third quarter of 2018 included an unfavorable LIFO impact of $0.04 per share Third quarter of 2017 included non-cash impairment charges of $0.10 per share Lower effective income tax rate in the third quarter of 2018 due primarily to the U.S. Tax Cuts and... MoreGorman-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
