Preheat oven to 350°F (175°C). Grease and flour a 9×13-inch baking pan or line with parchment paper
In a medium bowl, whisk together the flour, baking powder, and salt. Set aside
In a large mixing bowl, cream the butter and sugar together until light and fluffy, about 3-5 minutes
Add the eggs one at a time, beating well after each addition. Stir in the vanilla extract
Alternately add the dry ingredients and milk in three additions, beginning and ending with the dry ingredients. Mix until just combined
Pour batter into the prepared baking pan and smooth the top. Bake for 30-35 minutes, or until a toothpick inserted in the center comes out clean
While the cake bakes, prepare the glaze. In a small saucepan over low heat, melt the butter and water together. Stir until combined and remove from heat
Once the cake is out of the oven, poke holes all over the surface with a toothpick or skewer. Pour the warm glaze evenly over the cake, allowing it to soak in
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Let the cake cool before slicing and serving. Enjoy!