Steven Rasmussen, a director at York Water Co. (NASDAQ:YORW), has acquired additional shares in the company. According to a recent SEC filing, Rasmussen purchased 28.9 shares of common stock on December 20, 2024, at an average price of $34.6015 per share. This transaction amounted to a total value of approximately $999. Following this acquisition, Rasmussen's total direct ownership stands at 4,300.816 shares. The shares were acquired through The York Water Company (NASDAQ:YORW) dividend reinvestment plan.The purchase comes as York Water, currently valued at $483 million, trades near its 52-week low of $33.32. The company maintains an impressive dividend track record, having paid dividends for 51 consecutive years with a current yield of 2.62%. InvestingPro analysis indicates the stock is fairly valued, with additional metrics showing strong gross profit margins of 74%. For deeper insights into York Water's dividend sustainability and growth potential, InvestingPro subscribers can access 6 more exclusive tips and comprehensive financial metrics.
In other recent news, York Water Company has announced a 4% increase in its quarterly dividend to $0.2192 per share, marking its 616th consecutive dividend payout. This announcement follows a successful year in which the company completed the Lake Williams Dam Rehabilitation project on time and within budget. York Water has been increasing dividends for 28 consecutive years, demonstrating its commitment to shareholder value.
The company has recently seen changes in its Board of Directors, with Ernest J. Waters (NYSE:WAT) retiring after 17 years of service. Waters will continue his association with the company as a Director Emeritus. Additionally, Robert F. Lambert has been appointed as a new independent director, expected to contribute valuable insights and guidance.
These developments highlight York Water's ongoing efforts to maintain a sustainable utility infrastructure and a stable board, while consistently delivering shareholder value.
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