Filing Analysis
The York Water Company announced a quarterly dividend increase of 4% to $0.2192 per share, marking the 616th consecutive dividend payment.
📋 Key Facts
- Quarterly dividend declared: $0.2192 per share (a 4% increase).
- Dividend payable date: January 15, 2025.
- Record date for shareholders: December 31, 2024.
- The company has paid dividends for 616 consecutive quarters and increased them for 28 consecutive years.
- Management highlighted the successful completion of the Lake Williams Dam Rehabilitation project on time and within budget.
The York Water Company has announced the appointment of Suzanne M. Becker as Vice President of Customer Service, effective March 3, 2025.
📋 Key Facts
- Suzanne M. Becker appointed to Vice President of Customer Service position.
- Effective date of appointment is March 3, 2025.
- Ms. Becker previously served as Executive Administrative Officer and Assistant Corporate Secretary at Traditions Bank.
- The appointment includes a change in control agreement with benefits similar to other Named Executive Officers (excluding the President/CEO).
The York Water Company has filed an 8-K to announce its third quarter and first nine months of 2024 financial results. The filing serves as a vehicle to furnish the official press release containing these earnings figures.
📋 Key Facts
- Report date: November 7, 2024
- Reporting period: Third quarter and first nine months of 2024
- The filing includes Exhibit 99.1 (Press Release) regarding financial results.
The York Water Company announced the retirement of Ernest J. Waters from its Board of Directors and Audit Committee, effective October 5, 2024. Mr. Waters will transition to a Director Emeritus role following a 17-year tenure.
📋 Key Facts
- Ernest J. Waters retired from the Board of Directors on October 5, 2024.
- Mr. Waters served as a director for 17 years (since September 2007).
- At the time of retirement, Mr. Waters was a member of the Audit Committee.
- The departure is pursuant to the Company's established retirement policy.
- Mr. Waters will hold the designation of Director Emeritus.
The York Water Company announced the appointment of Robert F. Lambert as a new independent director, effective September 1, 2024. Mr. Lambert will serve on the Board's Audit Committee.
📋 Key Facts
- Robert F. Lambert appointed as an independent director effective September 1, 2024.
- Mr. Lambert is currently President of York County Libraries and a director at Traditions Bank and Capital Blue Cross.
- Term expires at the 2025 Annual Meeting of Shareholders.
- Appointment includes assignment to the Board's Audit Committee.
The York Water Company filed an 8-K to furnish its second quarter and first six months of 2024 financial results via a press release. This is a routine earnings announcement filing.
📋 Key Facts
- Report date: August 2, 2024
- Financial period covered: Second quarter and first six months of 2024
- The filing includes Exhibit 99.1 containing the press release with financial results.
The York Water Company held its Annual Meeting of Shareholders on May 6, 2024. The meeting resulted in the election of four directors and the ratification of Baker Tilly US, LLP as the independent auditor for fiscal year 2024.
📋 Key Facts
- Annual Meeting convened on May 6, 2024, at The Appell Center for the Performing Arts.
- Four directors elected to three-year terms: Douglas S. Brossman, Michael W. Gang, Esq., Jeffrey R. Hines, P.E., and George W. Hodges.
- Shareholders ratified Baker Tilly US, LLP as independent accountants for the fiscal year ending December 31, 2024, with 10,914,717 shares in favor.
- Advisory vote on executive officer compensation was approved by 8,082,563 shares.
The York Water Company has filed an 8-K to furnish its first quarter 2024 financial results via a press release. This is a routine regulatory filing used to communicate quarterly earnings and operational performance.
📋 Key Facts
- Report date: May 7, 2024
- Subject matter: Q1 2024 financial results announcement
- The filing includes Exhibit 99.1 containing the press release
- Filed by Matthew E. Poff, Chief Financial Officer
The York Water Company has appointed Ashley M. Grimm as the new Vice President of Human Resources and Secretary, effective April 8, 2024.
📋 Key Facts
- Appointment of Ashley M. Grimm, Esq., SHRM-SCP to VP of Human Resources and Secretary position.
- Effective date for the appointment is April 8, 2024.
- Ms. Grimm previously served as Director in the Office of Human Resources and Office of Budget and Financial Management for the Pennsylvania Department of the Auditor General.
- Compensation includes a supplemental retirement agreement and change in control agreement similar to other Named Executive Officers.
The York Water Company has filed an 8-K to furnish its fourth quarter and annual 2023 financial results via a press release. This is a routine earnings announcement filing.
📋 Key Facts
- Report date: March 5, 2024
- Subject matter: Fourth quarter and full year 2023 financial results
- Exhibit 99.1 contains the detailed press release regarding operations and financial condition.
The York Water Company entered into a Note Purchase Agreement for the private placement of $40 million in 5.67% Senior Notes due February 27, 2054. The proceeds are intended to refinance short-term debt used for capital projects and for general corporate purposes.
🚩 Red Flags
- Contains customary events of default including cross-default for indebtedness of at least $5 million.
📋 Key Facts
- Aggregate principal amount: $40 million
- Interest rate: 5.67% payable semi-annually on August 27 and February 27
- Maturity date: February 27, 2054
- Use of proceeds: Refinance short-term debt used for capital projects and general corporate purposes
- Pricing date: February 1, 2024; Funding date: February 27, 2024
- The notes are unsecured and unsubordinated obligations.
The York Water Company announced the planned retirement of Vernon L. Bracey, Vice President of Customer Service, effective September 1, 2024.
📋 Key Facts
- Vernon L. Bracey notified the company of his intent to retire on January 29, 2024.
- The retirement is scheduled to take effect on September 1, 2024.
- Mr. Bracey has been with the Company since 1998 and has served as VP of Customer Service since 2003.
The York Water Company announced the resignation of Natalee C. Gunderson from her position as Vice President of Human Resources and Secretary, effective February 16, 2024.
📋 Key Facts
- Natalee C. Gunderson resigned as VP of Human Resources and Secretary on January 18, 2024.
- The resignation becomes effective on February 16, 2024.
- The company explicitly stated the resignation was not due to any disagreement regarding policies, operations, or practices.