YORK, PA—Matthew E. Poff, the Chief Financial Officer of York Water Co. (NASDAQ:YORW), has increased his stake in the company by acquiring additional shares. According to a recent SEC filing, Poff purchased 4.16 shares of York Water common stock at a price of $31.253 per share, totaling approximately $130. This transaction was part of the company's dividend reinvestment plan, which allows shareholders to reinvest dividends into additional shares. The company, currently trading near its 52-week low, boasts an impressive 51-year streak of consecutive dividend payments with a current yield of 2.84%. InvestingPro analysis indicates the stock is fairly valued, with 8 additional key insights available to subscribers.
Following this acquisition, Poff now holds a total of 6,808.119 shares in the company. York Water Co., headquartered in York, Pennsylvania, is engaged in the business of water supply and serves as a key utility in the region. With a market capitalization of $450 million and an impressive gross profit margin of 74%, the company maintains strong financial fundamentals despite recent market pressures.
In other recent news, York Water Company announced a 4% increase in its quarterly dividend, marking its 616th consecutive payout. This dividend, set at $0.2192 per share, is scheduled for distribution in early 2025. This development follows a successful year for the company, highlighted by the timely and budget-compliant completion of the Lake Williams Dam Rehabilitation project. York Water's strategy remains focused on investing in infrastructure to ensure reliable water and wastewater services for its customers.
In addition to financial developments, changes have occurred within the company's Board of Directors. After over 17 years of service, Ernest J. Waters (NYSE:WAT) retired from the board in accordance with the company's policy, though he will maintain ties as a Director Emeritus. Meanwhile, Robert F. Lambert has been appointed as a new independent director, bringing his experience as the president of York County Libraries and director at Traditions Bank and Capital Blue Cross. These developments indicate a period of transition and growth for York Water.
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