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Subsequent Events
12 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 22, 2021, our Board of Directors declared a dividend of $0.0580 per share on our common stock, a 5.5% increase from the prior quarter, payable on or about November 22, 2021 to stockholders of record at the close of business on November 10, 2021.
Additionally, we announced a new management structure effective October 1, 2021. The new structure is designed to increase revenue growth, drive operational excellence, accelerate new product development and enhance profitability. We anticipate the reorganization will strengthen the alignment of products, solutions and services with customer needs, accelerate new product introductions and improve product life cycle management. The two newly named business units are Water Flow Solutions and Water Management Solutions.
Water Flow Solutions’ product portfolio includes iron gate valves, specialty valves and service brass products. Net sales of products in the Water Flow Solutions business unit were approximately 60% of fiscal 2021 consolidated net sales.
Water Management Solutions’ product and service portfolio includes fire hydrants, repair and installation, natural gas, metering, leak detection, pressure control and software products. Net sales of products in the Water Management Solutions business unit were approximately 40% of fiscal 2021 consolidated net sales.