The York Water Company has come along way from its first year when it had 35 customers. But it did something important that year that still stands today. It gave its investors a dividend, something that it has since done 598 more consecutive times, which the company says is a record.
The company, which is based on Market Street in York, provides 20 million gallons of water per day to 200,000 residents and businesses in 51 Pennsylvania municipalities.
In celebration of 20 years on Nasdaq, the midstate company had the honor to ring the bell at Nasdaq Stock Market last month, although this time it was done virtually.
The York Water Company virtually rang the celebratory closing bell on Nov. 23.
“It is a privilege and an honor for me to stand here today and represent our company and all of our stakeholders at today’s closing bell ceremony,” JT Hand, president and CEO of York Water said in a prerecorded video during the virtual ceremony.
The company became incorporated in 1816 and says it is the nation’s oldest publicly traded utility company and has paid 599 consecutive dividends. And on Nov. 23 the company announced that it would issue a dividend once again for a 600th time.
“We are extremely proud to say The York Water Company has consistently paid dividends to our loyal investors for more than 204 years,” Hand said in a press release. “This record-breaking run speaks volumes to our fiscal commitment to our investors as we simultaneously fulfill our mission of leading the industry through responsible and proactive investments and innovations, providing our customers with safe, dependable, high-quality water and wastewater services.”
Due to COVID-19, the bell ringing ceremony has become a virtual experience for Nasdaq. The opening and closing bells are broadcast to a global audience on the Nasdaq live stream Webcam, the seven-story Nasdaq Tower Marquee in Times Square, CNBC, Fox Business News, Bloomberg TV, and BNN.
The company’s motto is “That good York water” and Hand made special mention of the company’s hometown during the ceremony.
“As York, Pennsylvania’s longest continuously operating business we’re proud of our hometown and the relationships we have built across the 51 municipalities we serve,” he said.
The company’s symbol on Nasdaq is YORW.
Other midstate companies that have been invited to ring the bell at Nasdaq in recent years include the Riverview Financial Corporation based in Susquehanna Township when it marked its debut on the Nasdaq in 2018; Chambersburg-based Franklin Financial Services Corporation when it marked its debut last year; Reading-based Penn National Gaming was honored in February to mark its partnership with Barstool Sports and Lower Paxton Township-based Ollie’s Bargain Outlet was honored in 2015 to mark its debut on the Nasdaq.
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