The York Water Company (NASDAQ:YORW) Announces Quarterly Dividend of $0.23

Key Points

• York Water declared a quarterly dividend of $0.228 per share, with record and ex-dividend date on June 30 and payment scheduled for July 15, implying an annualized yield of about 3.2%.
• The company has increased its dividend every year for 27 years and carries a dividend payout ratio of 57.6%, indicating the payout is reasonably covered by earnings.
• York Water reported quarterly EPS of $0.33 (beating the $0.31 estimate) on $20.07M revenue (slightly below estimates), and CEO Joseph Hand bought 1,052 shares recently, signaling insider buying.

The York Water Company (NASDAQ:YORW - Get Free Report) declared a quarterly dividend on Monday, May 4th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.228 per share by the utilities provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

York Water has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 27 years. York Water has a dividend payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings.

York Water Price Performance

YORW opened at $28.69 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.92. York Water has a 52-week low of $28.26 and a 52-week high of $35.10. The company has a 50 day moving average of $31.13 and a two-hundred day moving average of $32.04. The company has a market cap of $464.70 million, a P/E ratio of 20.62 and a beta of 0.60.

York Water (NASDAQ:YORW - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $20.07 million for the quarter, compared to the consensus estimate of $20.29 million. York Water had a net margin of 25.89% and a return on equity of 8.49%.

Insider Transactions at York Water

In other news, CEO Joseph Thomas Hand acquired 1,052 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were bought at an average price of $28.50 per share, for a total transaction of $29,982.00. Following the completion of the purchase, the chief executive officer directly owned 41,332 shares of the company's stock, valued at approximately $1,177,962. This trade represents a 2.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,556 shares of company stock valued at $44,590 over the last three months. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On York Water

A number of large investors have recently added to or reduced their stakes in YORW. Versant Capital Management Inc lifted its holdings in York Water by 290.7% in the 3rd quarter. Versant Capital Management Inc now owns 922 shares of the utilities provider's stock worth $28,000 after buying an additional 686 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of York Water during the third quarter worth about $31,000. Parallel Advisors LLC lifted its stake in shares of York Water by 589.5% in the third quarter. Parallel Advisors LLC now owns 1,179 shares of the utilities provider's stock worth $36,000 after acquiring an additional 1,008 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in York Water by 62.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,148 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in York Water by 211.4% in the fourth quarter. GAMMA Investing LLC now owns 1,367 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 928 shares during the last quarter. 49.86% of the stock is owned by institutional investors and hedge funds.

About York Water

York Water Company NASDAQ: YORW is an investor-owned regulated water utility headquartered in York, Pennsylvania. Founded in 1816, it is the oldest publicly traded water utility in the United States. The company's principal operations involve the collection, treatment and distribution of potable water to residential, commercial and industrial customers under rate schedules approved by the Pennsylvania Public Utility Commission.

York Water Company's service territory covers portions of south-central Pennsylvania, including York County and neighboring Adams and Franklin counties.

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