The Gorman-Rupp Company has announced its financial results for the third quarter and for the nine months ending September 30. Third quarter financial highlights include:
In addition, the The Board of Directors 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 will mark the 275th consecutive quarterly dividend paid by The Gorman-Rupp Company and the 46th consecutive year of increased dividends paid to its shareholders.