The Board of Directors of The Gorman-Rupp Company (NYSE MKT: GRC) declared a quarterly cash dividend of $0.10 per share on the common stock of the Company, payable March 8, 2013, to shareholders of record February 15, 2013. This marks the 252 nd consecutive quarterly dividend paid by The Gorman-Rupp Company. During 2012 the Company achieved its 40th consecutive year of increased dividends paid to its shareholders. Other action taken by the Board of Directors of The Gorman-Rupp Company was the announcement of the Annual Meeting of Shareholders scheduled to be held Thursday, April 25, 2013, and the related establishment of the close of business on March 8, 2013 as the record date for shareholders entitled to notice of and to vote at the meeting. The meeting will be held at 10:00 A.M., Eastern Daylight Time at the Company’s Corporate Headquarters, 600 South Airport Road, Mansfield, Ohio 44903. David P. EmmensCorporate SecretaryThe Gorman-Rupp CompanyTelephone (419) 755-1477NYSE MKT: GRC
Shareholders of Gorman-Rupp Co. looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the June covered call at the $30 strike and collect the premium based on the $1.70 bid, which annualizes to an additional 16.8% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 18.2% annualized rate in the scenario where the stock is not called away.