Gorman-Rupp (GRC) Declares $0.135 Quarterly Dividend, 1.6% Yield; Board Chairman James Gorman & Board Member W. Wayne Walston to Step Down from Board at End of Term

Gorman-Rupp (NYSE: GRC) declared a quarterly dividend of $0.135 per share, or $0.54 annualized.

The dividend will be payable on March 8, 2019, to stockholders of record on February 15, 2019, with an ex-dividend date of February 14, 2019.

The annual yield on the dividend is 1.6 percent.

Board Changes

James C. Gorman, Chairman of the Board of Directors, has notified the Company that he will not stand for re-election as a Director at the Company’s 2019 Annual Meeting of Shareholders scheduled in April, at which time his term as a Director will expire. Mr. Gorman, 94, has served as a Director of the Company since 1946 and as Chairman since 1989. Following the conclusion of his term, Mr. Gorman plans to continue his involvement with the Company in a non-executive officer capacity.

W. Wayne Walston also has notified the Company that he will not stand for re-election as a Director at the Company’s 2019 Annual Meeting of Shareholders, when his term will expire. Mr. Walston, 76, has served as a Director of the Company since 1999.

For a dividend history and other dividend-related data on Gorman-Rupp (GRC) click here.

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