The York Water Company (NASDAQ:YORW) Plans Dividend Increase – $0.22 Per Share

The York Water Company (NASDAQ:YORW) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.2192 per share by the utilities provider on Wednesday, January 15th. This represents a $0.88 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, December 31st. This is an increase from York Water’s previous quarterly dividend of $0.21.

York Water has increased its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 26 consecutive years. York Water has a payout ratio of 54.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect York Water to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 54.9%.

York Water Trading Up 0.2 %

NASDAQ YORW opened at $35.98 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.88 and a quick ratio of 0.68. The firm has a market cap of $517.03 million, a P/E ratio of 24.31 and a beta of 0.64. The stock’s 50-day moving average is $36.63 and its 200-day moving average is $37.60. York Water has a one year low of $33.32 and a one year high of $41.96.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of York Water from a “sell” rating to a “hold” rating in a research note on Friday, August 30th.

About York Water

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.