Gorman-Rupp Company Declares Cash Dividend
July 26 2024 - 5:30AM
Business Wire
The Board of Directors of The Gorman-Rupp Company (NYSE: GRC)
has declared a quarterly cash dividend of $0.18 per share on the
common stock of the Company, payable September 10, 2024, to
shareholders of record August 15, 2024. This will mark the 298th
consecutive quarterly dividend paid by The Gorman-Rupp 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,
integration of the Fill-Rite 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) the Company’s
indebtedness and how it may impact the Company’s financial
condition and the way it operates its business; (5) general risks
associated with acquisitions; (6) the anticipated benefits from the
Fill-Rite transaction may not be realized; (7) impairment in the
value of intangible assets, including goodwill; (8) defined benefit
pension plan settlement expense; (9) risk of reserve and expense
increases resulting from the LIFO inventory method, and (10) family
ownership of common equity; and general risk factors including (11)
continuation of the current and projected future business
environment; (12) highly competitive markets; (13) availability and
costs of raw materials and labor; (14) cybersecurity threats; (15)
compliance with, and costs related to, a variety of import and
export laws and regulations; (16) environmental compliance costs
and liabilities; (17) exposure to fluctuations in foreign currency
exchange rates; (18) conditions in foreign countries in which The
Gorman-Rupp Company conducts business; (19) changes in our tax
rates and exposure to additional income tax liabilities; and (20)
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/20240725392317/en/
Brigette A. Burnell Corporate Secretary The Gorman-Rupp Company
Telephone (419) 755-1246
For additional information, contact James C. Kerr, Chief
Financial Officer, Telephone (419) 755-1548.
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