The needle on Badger Meter's (NYSE:BMI) dividend dial is rising. The company has declared a quarterly common stock disbursement of $0.18 per share, to be paid on September 13, to shareholders of record as of August 30. That amount is $0.01, or 6%, higher than each of the company's preceding four payouts of $0.17 apiece, the most recent of which was distributed in June.

In the press release announcing the raise, the firm did not hesitate to mention that it makes 2013 the 21st year it has increased its payout.

The new dividend annualizes to $0.72 per share. That yields 1.5% at Badger Meter's most recent closing stock price of $49.09.