Badger Meter, Inc. Surges with a 20% Increase in Quarterly Dividend
Badger Meter, Inc. (BMI) has announced a substantial 20% increase in its quarterly common stock dividend. This decision showcases the company's confidence in its earnings and cash flow, reinforcing its commitment to shareholders.
The Board of Directors at Badger Meter, Inc. has given the green light to a noteworthy 20% surge in the quarterly common stock dividend. This brings the dividend up to an impressive $0.27 per share from its previous value of $0.225 per share. Shareholders can mark their calendars for the dividend payout on September 8, 2023, provided they're on record as of August 25, 2023. With this increase, the annual dividend rate for common stock now stands at a promising $1.08 per share.
Kenneth C. Bockhorst, the esteemed Chairman, President, and Chief Executive Officer of Badger Meter, Inc., expressed his enthusiasm about the dividend increase. He attributes this commendable decision to the company's robust financial performance. The consistent growth in the annual dividend rate over the past five years, nearly doubling from $0.60 in 2018, is a testament to the company's dedication to its shareholders.
The stability of the dividend forms a crucial component of Badger Meter, Inc.'s disciplined capital allocation framework. With a proud track record of 31 consecutive years of dividend increases, the company has demonstrated its commitment to providing value to its investors. This dividend increase not only reflects the company's financial prowess but also underscores its forward-looking approach to ensuring sustainable returns for shareholders.
This latest announcement from Badger Meter, Inc. underlines its dedication to enhancing shareholder value through consistent and significant dividend increases. As the company continues to thrive, shareholders can look forward to reaping the benefits of its strong financial performance and steadfast commitment to their interests.
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