The York Water Company (YORW) to Issue Quarterly Dividend of $0.21 on October 15th

The York Water Company (NASDAQ:YORW) declared a quarterly dividend on Monday, August 26th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.2108 per share by the utilities provider on Tuesday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, September 30th.

York Water has raised its dividend by an average of 4.0% per year over the last three years and has raised its dividend annually for the last 26 consecutive years. York Water has a payout ratio of 54.9% indicating that 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 Stock Performance

Shares of YORW traded up $0.38 during mid-day trading on Friday, reaching $37.52. 41,128 shares of the company’s stock traded hands, compared to its average volume of 55,805. The business’s 50-day moving average price is $38.92 and its 200-day moving average price is $37.34. The stock has a market capitalization of $538.79 million, a P/E ratio of 22.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.61 and a current ratio of 0.78. York Water has a 12 month low of $33.32 and a 12 month high of $41.96.

York Water (NASDAQ:YORW) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The business had revenue of $18.75 million for the quarter, compared to the consensus estimate of $19.00 million. York Water had a net margin of 31.27% and a return on equity of 10.32%. Equities analysts predict that York Water will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

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

York Water Company Profile

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.