York Water Co (NASDAQ:YORW), a water utility with a market capitalization of $450 million, recently reported a stock purchase by its Chief Administrative Officer and General Counsel, Alexandra Chiaruttini. On January 16, Chiaruttini acquired 41.597 shares of York Water Co's common stock at a price of $31.253 per share, totaling approximately $1,300. According to InvestingPro data, the stock is currently trading near its 52-week low, with technical indicators suggesting oversold conditions. This transaction was part of the company's dividend reinvestment plan, a program that leverages York Water's impressive dividend track record of 51 consecutive years of payments and 28 years of consecutive raises. InvestingPro analysis reveals the company maintains robust gross profit margins of 74%. Following the purchase, Chiaruttini now holds 3,523.85 shares directly.
In other recent news, York Water Company announced a 4% increase in its quarterly dividend to $0.2192 per share, marking its 616th consecutive payout. This decision follows a successful year for the company, which received praise for the timely and budget-conscious completion of the Lake Williams Dam Rehabilitation project. York Water has consistently demonstrated commitment to its shareholders, increasing dividends for 28 consecutive years and maintaining a dividend payout for over 208 years.
Recent developments also include changes in York Water's Board of Directors. After serving for over 17 years, Ernest J. Waters (NYSE:WAT) retired from the board, but will continue his association with the company as a Director Emeritus. Meanwhile, Robert F. Lambert, president of York County Libraries, was appointed as a new independent director. Lambert is expected to bring valuable insights and guidance and will serve on the Board's Audit Committee until the 2025 Annual Meeting of Shareholders. These updates provide a snapshot of the company's recent activities and strategic direction.
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