Matthew J. Scarpato, Vice President of Operations at York Water Co (NASDAQ:YORW), recently acquired additional shares of the company. According to a Form 4 filing with the Securities and Exchange Commission, Scarpato purchased 23.998 shares of common stock on January 16, 2025, at a price of $31.253 per share. The purchase comes as the stock trades near its 52-week low of $30.02, having declined over 22% in the past six months. According to InvestingPro analysis, the stock is currently fairly valued. This transaction amounted to a total purchase value of approximately $750. Following this acquisition, Scarpato now holds 395.277 shares, including shares acquired under The York Water Company (NASDAQ:YORW) dividend reinvestment plan. The company, currently valued at $450 million, has maintained dividend payments for 51 consecutive years and raised them for 28 straight years, offering a current yield of 2.84%. InvestingPro subscribers can access 6 additional key insights about YORW's financial health and market position.
In other recent news, York Water Company has announced a 4% increase in its quarterly dividend, marking its 616th consecutive payout. This comes after a successful year where the company completed the Lake Williams Dam Rehabilitation project on time and within budget, aligning with its commitment to invest in infrastructure for safe and reliable water and wastewater services. Further emphasizing its commitment to shareholders, York Water has increased dividends for 28 consecutive years, boasting the longest streak of consecutive dividends in the United States.
The company also witnessed significant changes in its Board of Directors recently. Ernest J. Waters (NYSE:WAT) retired from the board after a tenure of over 17 years, but will continue his association with the company as a Director Emeritus. Meanwhile, Robert F. Lambert has been appointed as a new independent director, expected to bring valuable insights and guidance. These are among the latest developments for the company, which has maintained a dividend payout for over 208 years, marking a significant milestone in corporate America.
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