Water meter maker Badger Meter Inc. said Friday it has filed an application to move its common stock listing to the New York Stock Exchange from the American Stock Exchange.
Badger Meter said that pending approval, it expects its stock to begin trading on the NYSE in mid-June under its current symbol "BMI." Until then, the company's shares will continue to trade on the AMEX.
Badger Meter said that with the increasing value of its shares, higher trading volume and improved financial performance, it believes that a move to the NYSE is an appropriate next step.
Also on Friday, the company's shareholders voted to declassify Badger Meter's board. As a result, beginning at the 2009 annual meeting, the company's directors will stand for reelection annually.
Shareholders also approved the company's 2008 restricted stock plan, which allows the company to make periodic grants of restricted stock to officers and certain employees, Badger Meter said.
Badger Meter shares rose 33 cents to $50.35 in morning trading.
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