The York Water Company (NASDAQ:YORW) to Issue $0.21 Quarterly Dividend

The York Water Company (NASDAQ:YORW) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, June 28th will be given a dividend of 0.2108 per share by the utilities provider on Monday, July 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, June 28th.

York Water has raised its dividend payment by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 26 years. York Water has a payout ratio of 49.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect York Water to earn $1.69 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 49.7%.

York Water Stock Performance

Shares of York Water stock traded up $0.95 during trading hours on Thursday, hitting $38.34. 61,852 shares of the company were exchanged, compared to its average volume of 59,169. York Water has a 1 year low of $33.32 and a 1 year high of $45.61. The business has a 50-day moving average of $35.45 and a 200-day moving average of $36.59. The stock has a market capitalization of $549.41 million, a price-to-earnings ratio of 22.52 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

York Water (NASDAQ:YORW) last released its quarterly earnings data on Tuesday, March 5th. The utilities provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $18.10 million for the quarter, compared to analyst estimates of $17.00 million. York Water had a return on equity of 11.05% and a net margin of 33.45%. As a group, analysts expect that York Water will post 1.61 EPS for the current fiscal year.

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.