The stock of Badger Meter (NYSE: BMI) jumped 7.8% on Thursday, following the smart water technology specialist's release of better-than-expected results for the second quarter of 2023. The quarter's revenue and earnings both easily exceeded Wall Street's expectations.

This significant post-earnings gain isn't a one-off happening. Shares surged 10.7% following the company's release of first-quarter results. As I wrote at that time, an upward move of that magnitude "is relatively unusual -- and thus, particularly noteworthy -- for a long-established, stable, dividend-paying industrial company."

As for the dividend, it's modest and currently yields about 0.6%. Nonetheless, even a modest dividend, when reinvested, can make a significant difference over time in an investor's total return. 

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Source Fool.com