York Water Company closed the full exercise of its underwriters’ option to purchase an additional 228,261 shares, bringing the total number of shares sold to 1,750,000. The shares were priced at $28.50 each, generating net proceeds of approximately $47.7 million, of which $6.3 million came from the additional shares.
The company said it will use the proceeds for general corporate purposes, including its capital investment program, repayment of outstanding indebtedness, and potential acquisitions. In 2024, York Water invested $48.2 million in construction and acquired several water and wastewater systems for $783,000, while 2025 capital expenditures were $22.2 million. The company expects to invest roughly $48 million per year in 2026 and 2027.
Equity offerings are a common way for regulated utilities to raise capital for infrastructure upgrades and to strengthen their balance sheets. The offering supports York Water’s long‑term strategy of expanding service territory, improving reliability, and maintaining a strong dividend record of 53 consecutive years with a yield of about 3.06 %.
The offering price of $28.50 sits just above the company’s 52‑week low of $28.26 and within its 52‑week range of $28.26–$36.48. No immediate market reaction was reported, and analysts have not issued new guidance on the company’s financial outlook.
For context, the company reported operating revenues of $74.96 million and net income of $20.33 million in its 2024 annual report, a decline in earnings per share compared to 2023.
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