Joseph Thomas Hand, CEO and President of York Water Co (NASDAQ:YORW), recently acquired additional shares of the company's common stock, according to an SEC filing. On December 19, Hand purchased 20 shares at a price of $33.41 each, amounting to a total transaction value of $668. The purchase comes as the stock trades near its 52-week low, with a current dividend yield of 2.62%. Following this acquisition, Hand directly owns 33,722.3976 shares. This transaction also includes shares acquired under York Water's dividend reinvestment plan, as noted in the filing's footnotes. The $480 million market cap utility company boasts an impressive track record of 51 consecutive years of dividend payments and 28 years of consecutive dividend increases. InvestingPro subscribers can access detailed dividend analysis tools and 6 additional ProTips about York Water's financial health and valuation metrics.
In other recent news, The York Water Company (NASDAQ:YORW), based in York, Pennsylvania, has announced significant changes in its operations and governance. The company declared its 616th consecutive dividend, with a 4% increase, underscoring its commitment to shareholder value. This follows a year where the company successfully completed the Lake Williams Dam Rehabilitation project, a testament to its dedication to infrastructure investment.
In governance-related developments, the company saw changes in its Board of Directors. Long-serving director Ernest J. Waters (NYSE:WAT) retired after a 17-year tenure, in line with the company's retirement policy. Despite his retirement, Waters will maintain ties with the company as a Director Emeritus.
Simultaneously, the company welcomed Robert F. Lambert as a new independent director. Lambert, with directorship positions at York County Libraries, Traditions Bank, and Capital Blue Cross, is expected to bring valuable insights to the Board's Audit Committee. These recent developments highlight The York Water Company's commitment to its shareholders, infrastructure investment, and strong governance.
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