Badger Meter hikes dividend by 20% to $0.27 quarterly in 2023
Badger Meter (BMI) will raise its quarterly dividend by 20% to $0.27 quarterly per share. This marks 32 consecutive years of increased dividends by the industrial company. The dividend yield for BMI is 0,6% at a stock price of $166.83.
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.”
Badger Meter, Inc. provides flow measurement, control and communications solutions, serving water utilities, municipalities, and commercial and industrial customers worldwide. The company’s products measure water, oil, chemicals, and other fluids. BMI's product lines fall into two categories: sales of water meters, radios and related technologies to municipal water utilities and sales of meters, valves and other products for industrial applications in water, wastewater, and other industries. The company's products are sold throughout the world through employees, resellers and representatives. Badger Meter was founded in 1905.
