York Water files $60M mixed securities shelf
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2024
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Offering Details: The York Water Company plans to sell up to $60 million in common stock and debt securities, which may include convertible debt securities.
Sales Structure: These offerings may occur over time in one or more transactions.
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About YORW
The York Water Company is an investor-owned water utility in the United States. The primary business of the Company is to impound, purify to meet or exceed safe drinking water standards and distribute water. The Company owns and operates wastewater collection and treatment systems. It operates within its franchised water and wastewater territory, which covers portions of over 57 municipalities within four counties in south-central Pennsylvania. It covers the areas of billing, payment procedures, dispute processing, terminations, service territory, debt and equity financing and rate setting. It obtains the bulk of its water supply for its primary system for York and Adams Counties from both the South Branch and East Branch of the Codorus Creek. It has two reservoirs, Lake Williams and Lake Redman, which together hold up to over 2.5 billion gallons of water. It also has the Houston Run Community Water System in Salisbury Township, Lancaster County.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
York Water Declares Quarterly Dividend of $0.228
- Quarterly Dividend Announcement: York Water has declared a quarterly dividend of $0.228 per share, indicating the company's stable cash flow and profitability, which is likely to attract income-seeking investors.
- Dividend Yield: The forward yield of 2.79% reflects the company's commitment to shareholder returns and may enhance market attractiveness for its stock.
- Payment Schedule: The dividend is payable on April 15, with a record date of February 27 and an ex-dividend date also on February 27, ensuring shareholders receive their returns promptly.
- Financial Health: Historical earnings data and the dividend scorecard for York Water indicate solid financial performance, and while the current return is moderate, the market anticipates potential for higher growth in the future.
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- Dividend Growth Leader: Realty Income has declared dividends for 667 consecutive months since its 1994 IPO and has increased its payout for 113 consecutive quarters, showcasing its robust cash flow and stable business model, which enhances investor confidence.
- Long-Term Stable Returns: American States Water has raised its annual dividend for 71 consecutive years, targeting a compound annual growth rate of over 7% for future dividends, with its monopoly position in the water and electricity sector ensuring stable demand and predictable earnings.
- Historic Dividend Payer: York Water has paid dividends for 209 consecutive years, making it one of the longest-standing dividend-paying companies in the U.S., with its stable cash flow and undervaluation attracting long-term investors' interest.
- Market Potential: York Water plans to apply for a significant rate increase from the Pennsylvania Public Utility Commission, which could boost its full-year revenue by 32%, further solidifying its market position in the water utility sector.
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