The Board of Directors of Badger Meter, Inc. (NYSE: BMI) today authorized a 20% increase in its quarterly common stock dividend to $0.27 per share from $0.225 per share. The increased dividend is payable September 8, 2023, to shareholders of record on August 25, 2023. The new annual dividend rate for common stock is $1.08 per share.
Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer, stated, “This substantial dividend increase reflects the strong financial performance of the company, and the confidence Badger Meter has in the durability of its earnings and cash flow. During the past five years our annual dividend rate has nearly doubled, up from just $0.60 in 2018. A stable dividend is a key element of our disciplined capital allocation framework, and we are proud of our now 31 consecutive years of dividend increases.”
About Badger Meter
With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water solutions encompassing flow measurement, quality and other system parameters. These offerings provide our customers with the data and analytics essential to optimize their operations and contribute to the sustainable use and protection of the world’s most precious resource. For more information, visit badgermeter.com.