Badger Meter raises dividend by 26% to $0.34 per share By Investing.com

MILWAUKEE – Badger Meter, Inc. (NYSE: NYSE:), a world supplier of water measurement expertise, introduced a 26% improve in its quarterly frequent inventory dividend, elevating it from $0.27 to $0.34 per share. The brand new dividend might be payable on September 6, 2024, to shareholders of document as of August 23, 2024, marking an annual dividend charge of $1.36 per share.

Kenneth C. Bockhorst, Chairman, President, and Chief Government Officer of Badger Meter, credited the corporate’s capacity to persistently serve clients and execute its enterprise technique for the dividend improve. He emphasised the importance of a sturdy dividend as a key component of the corporate’s capital allocation framework. Bockhorst additionally highlighted the corporate’s achievement of accelerating dividends for 32 consecutive years.

Badger Meter has over a century of expertise within the water expertise business. The corporate focuses on move measurement and water high quality options, offering knowledge and analytics that help the optimization of operations. These options contribute to the sustainable use and safety of water sources globally.

In different current information, Badger Meter reported a hanging 23% year-over-year progress in gross sales for the second quarter of 2024, with complete gross sales reaching $217 million. The corporate additionally reported document working margins and earnings per share, showcasing strong money move progress. Baird, an impartial world monetary providers agency, has elevated the worth goal for Badger Meter shares to $184.00, sustaining a impartial ranking on the inventory. This adjustment follows the corporate’s sturdy second-quarter gross sales and earnings outcomes.

InvestingPro Insights

Following the announcement of Badger Meter’s (NYSE: BMI) elevated quarterly dividend, a deeper look into the corporate’s financials through InvestingPro offers additional context to the choice. Badger Meter has a monitor document of stability and shareholder returns, as evidenced by its outstanding streak of getting raised its dividend for 31 consecutive years, a testomony to the corporate’s constant efficiency and prudent capital administration methods. This aligns with the corporate’s current dividend hike from $0.27 to $0.34 per share.

InvestingPro knowledge signifies that Badger Meter has a market capitalization of $5.63 billion, and it trades at a excessive earnings a number of, with a P/E ratio of 49.72. This excessive valuation is reflective of investor confidence within the firm’s future earnings potential. Moreover, the corporate’s income progress has been strong, with a progress charge of 24.0% during the last twelve months as of Q2 2024, signaling a robust market place and the effectiveness of its enterprise technique.

From an funding standpoint, Badger Meter’s inventory usually trades with low worth volatility, which might enchantment to traders on the lookout for steady fairness of their portfolios. That is complemented by the corporate’s strong monetary footing, the place liquid property exceed short-term obligations, indicating a wholesome liquidity place. Alongside these metrics, the corporate’s EBITDA progress of 34.89% over the identical interval underscores its operational effectivity and profitability.

For traders looking for extra in-depth evaluation and extra insights, the InvestingPro platform lists a number of different suggestions for Badger Meter, together with the corporate’s reasonable stage of debt and predictions of profitability for the yr. To discover these additional, traders can entry a complete of 15 extra InvestingPro Ideas for Badger Meter at https://www.investing.com/professional/BMI.

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