Gorman-Rupp Reaches 50th Consecutive Year of Increased Dividends With 2.9% Increase in Quarterly Cash Dividend
28 Octubre 2022 - 5:45AM
Business Wire
The Board of Directors of The Gorman-Rupp Company (NYSE: GRC)
has declared a quarterly cash dividend of $0.175 per share on the
common shares of the Company, payable December 9, 2022, to
shareholders of record November 15, 2022. The cash dividend will
represent a 2.9% increase over the $0.17 dividend per share paid in
the previous quarter.
This action will mark the 291st consecutive quarterly dividend
paid by The Gorman-Rupp Company and the 50th 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.
Scott A. King, President and CEO commented, “Gorman-Rupp has a
long history of dividend payments and we are extremely proud to
celebrate reaching the significant milestone of our 50th
consecutive year of increased dividends. The current increase
reflects our commitment to returning value to our shareholders, as
well as our confidence in the financial strength and long-term
outlook 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
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, and
uncertainties related to our acquisition of the assets of
Fill-Rite, including but not limited to integration of the acquired
business in a timely and cost effective manner, retention of
supplier and customer relationships and key employees, the ability
to achieve synergies and cost savings in the amounts and within the
time frames currently anticipated and the ability to service and
repay indebtedness incurred in connection with the transaction.
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)
impairment in the value of intangible assets, including goodwill;
(5) defined benefit pension plan settlement expense; and (6) family
ownership of common equity; and general risk factors including (7)
continuation of the current and projected future business
environment, including the impact of inflation and other cost
pressures, the duration and scope of the COVID-19 pandemic, the
impact of the pandemic and actions taken in response to the
pandemic; (8) highly competitive markets; (9) availability and
costs of raw materials and labor; (10) cyber security threats; (11)
compliance with, and costs related to, a variety of import and
export laws and regulations; (12) environmental compliance costs
and liabilities; (13) exposure to fluctuations in foreign currency
exchange rates; (14) conditions in foreign countries in which The
Gorman-Rupp Company conducts business; (15) changes in our tax
rates and exposure to additional income tax liabilities; 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/20221028005041/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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