Badger Meter increases dividend.MILWAUKEE--(BUSINESS WIRE)--May 17, 1996--Badger 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. ) today announced a 10 percent increase in its quarterly common stock dividend, from 20 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 22 cents per share. The increased dividend is payable June June: see month. 14, 1996, to shareholders of record May 31, 1996. The new annual dividend rate for the common stock is 88 cents per share. "Continued improved performance over the last several years allows us to pay a higher return to our shareholders. Investments in research and development, marketing, new products, manufacturing processes, and systems have contributed to solid performance," said James L. Forbes, President and Chief Executive Officer. The quarterly dividend for the company's Class B common stock will also increase 10 percent, from 18.2 cents per share to 20 cents per share. The dividend is payable June 14, 1996, to shareholders of record May 31, 1996. The Class B common stock is not publicly traded. 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's last dividend increase was in June, 1995. Badger Meter is a leading marketer and manufacturer of products using flow measurement and control technology serving industrial and utility markets worldwide. CONTACT: Badger Meter Inc., Milwaukee Joan C. Zimmer, 414/355-0400 |
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