Life isn’t linear and neither is investing.  There are always bumps in the road and before we reach the next level sometimes we must toil longer than we like at the current level. Case in point, Cincinnati Financial (CINF) and Nordson (NDSN) investors have waited six quarters for a dividend increase and this past week their patience was rewarded by the companies.

Below are six companies, including the two mentioned above,  rewarding their shareholders with higher cash dividends:

Badger Meter (BMI) makes and markets products using flow measurement and control technology, serving utility and industrial markets worldwide. This past week, the company increased its dividend 9% to $0.12/share. The increased dividend is payable September 15, 2009, to shareholders of record September 1, 2009. The ex-dividend date is August 28. BMI is a Dividend Achiever and has increased its dividend for 17 consecutive years. The current yield based on the new dividend is 1.27%.

Lorillard (LO) recently raised its quarterly dividend by 8.7% to $1.00/share.  The dividend is payable on September 11, 2009 to stockholders of record as of September 1, 2009. The current yield based on the new dividend is 5.46%.

Cincinnati Financial (CINF) is an insurance holding company. On Monday, the company increased its quarterly dividend to $0.395/share. The dividend is payable October 15, 2009, to shareholders of record as of September 18, 2009. The ex-dividend date is September 16. CINF is a Dividend Astrocrat that was in danger of losing its status after previously holding its dividend flat at $0.39/share for six straight quarters.  The current yield based on the new dividend is 6.46%.

Nordson (NDSN) manufactures equipment used for precision dispensing, testing and inspection, and surface preparation and curing.