MILWAUKEE--(BUSINESS WIRE)--The Board of Directors of Badger Meter, Inc. (NYSE: BMI) today authorized a 6% increase in its quarterly common stock dividend to $0.18 per share from $0.17 per share. The increased dividend is payable September 11, 2020, to shareholders of record on August 28, 2020. The new annual dividend rate for common stock is $0.72 per share.
“Today’s 6% dividend increase marks the company’s 28th consecutive year of increasing its dividend and is reflective of our ability to deliver strong free cash flow even during uncertain times. We recognize the importance of dividend growth as a component of our balanced approach to allocating capital, along with investing in Badger Meter’s future growth, both organically and via acquisition. Our Board’s action today to increase the dividend rate reinforces the resilience of Badger Meter’s long-term business strategy,” said Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer.
About Badger Meter
Badger Meter is an innovator in 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, and are known for accuracy, long-lasting durability and for providing valuable and timely measurement data. For more information, visit www.badgermeter.com