Why Gorman-Rupp (GRC) is a Great Dividend Stock Right Now

Company Overview - Gorman-Rupp (GRC) is an Industrial Products company headquartered in Mansfield, with a year-to-date price change of -0.17% [3] - The company currently pays a dividend of $0.18 per share, resulting in a dividend yield of 2.03$0.72 has increased by 2.1% from the previous year [4] - Over the last five years, the company has raised its dividend five times, achieving an average annual increase of 6.07% [4] - The current payout ratio is 47%, indicating that the company distributes 47% of its trailing 12-month earnings per share as dividends [4] Earnings Outlook - The Zacks Consensus Estimate for Gorman-Rupp's earnings in 2024 is projected at $1.85 per share, reflecting a year-over-year earnings growth rate of 35.04% [5] Investment Considerations - Gorman-Rupp is viewed as an attractive dividend investment, with benefits such as improved stock investing profits and reduced overall portfolio risk [6] - The company holds a Zacks Rank of 2 (Buy), suggesting it is a compelling investment opportunity [7]