Badger Meter declares stock split and regular quarterly dividend.MILWAUKEE--(BUSINESS WIRE)--Feb. 14, 1997--The Badger badger, name for several related members of the weasel family. Most badgers are large, nocturnal, burrowing animals, with broad, heavy bodies, long snouts, large, sharp claws, and long, grizzled fur. Meter, Inc. (AMEX AMEX See: American Stock Exchange :BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. ) Board of Directors today declared a 2-for-1 stock split in the form of a 100% stock dividend on the company's Common Stock and Class B Common Stock. The stock dividend is payable on April 18, 1997 to shareholders of record at the close of business on March 27, 1997. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. James L. Forbes, President and Chief Executive Officer, "The price of Badger Meter's stock has increased significantly over the past few years in response to the improved financial performance of the company. Our long-term strategy of investing in new technologies, marketing and capital improvements has resulted in increased earnings for five straight years. In 1996, our earnings increased 37.9 percent and the price per share of our stock increased 44 percent to $38.375 at December 31. Therefore, we believe it is appropriate to split our stock at this time, increasing our shares outstanding and at the same time rewarding our current shareholders." As of December 31, 1996, Badger Meter, Inc. had 1,213,188 Common Stock shares and 562,785 Class B Common Stock shares outstanding. The Class B Common Stock is not publicly traded. Brokers and other nominee nominee n. 1) a person or entity who is requested or named to act for another, such as an agent or trustee. 2) a potential successor to another's rights under a contract. holders have five business days from the record date to advise the company's transfer agent, Firstar Trust Company, Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. , of their requirements for shares. The directors also declared a regular quarterly dividend of 22 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. to shareholders of Common Stock, and 20 cents per share to shareholders of Class B Common Stock, of record February 28, 1997, payable March 14, 1997. These are the same amounts voted in the previous quarter. Badger Meter is a leading marketer and manufacturer of products using flow measurement and control technology serving industrial and utility markets worldwide. -0- Badger Meter company news is available 24 hours a day, on-line at: http://www.businesswire.com/cnn/bmi.htm CONTACT: Badger Meter, Inc., Milwaukee Richard A. Meeusen, 414/355-0400 |
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