Joseph Thomas Hand, CEO and President of York Water Co (NASDAQ:YORW), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. On January 16, Hand purchased 311.975 shares of common stock at a price of $31.253 per share, amounting to a total transaction value of $9,750. Following this acquisition, Hand holds a direct ownership of 35,253 shares. The transaction was part of York Water's dividend reinvestment plan, as noted in the filing. The company, with a market capitalization of $448 million, boasts an impressive track record of dividend payments, having maintained them for 51 consecutive years with 28 years of consecutive raises. InvestingPro subscribers can access 8 additional key insights about YORW's financial health and market position.
In other recent news, York Water Company announced a 4% increase in its quarterly dividend to $0.2192 per share, marking its 616th consecutive dividend. This follows a successful year for the company, having completed the Lake Williams Dam Rehabilitation project on time and within budget. This project is a testament to York Water's commitment to investing in infrastructure to provide safe and reliable services.
The company has a history of increasing dividends for 28 consecutive years, underscoring its commitment to shareholders. Notably, York Water has never missed a dividend payment, boasting what is believed to be the longest streak of consecutive dividends in the United States. This speaks to the company's stability and resilience.
Recent developments also include changes in York Water's Board of Directors. After over 17 years, Ernest J. Waters (NYSE:WAT) retired from the board, continuing his association as a Director Emeritus. Additionally, Robert F. Lambert was appointed as a new independent director, bringing his experience from York County Libraries, Traditions Bank, and Capital Blue Cross to the Board's Audit Committee. His term will expire at the 2025 Annual Meeting of Shareholders.
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