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Essential Utilities, Inc. (NYSE:WTRG), a $10.76 billion utility company trading at $39.12 per share, disclosed the outcomes of its Annual Meeting of Shareholders held on May 7, 2025, in a recent SEC filing. According to InvestingPro data, the company has maintained dividend payments for 55 consecutive years, demonstrating strong corporate governance. The virtual meeting addressed several key items, including the election of directors, an advisory vote on executive compensation, and the ratification of the company’s independent auditor.
The shareholders elected seven directors to serve one-year terms, with votes ranging from 193,308,810 for Christopher H. Franklin to 210,065,737 for W. Bryan Lewis (JO:LEWJ). Each nominee faced a number of withheld votes and broker non-votes, but all nominees were successfully elected. The company’s strong governance practices have contributed to its impressive track record of raising dividends for 32 consecutive years, as noted by InvestingPro.
In the advisory vote to approve executive compensation for 2024, the compensation was approved with 154,232,438 votes in favor, 56,219,963 against, and 1,425,093 abstentions. There were also 29,176,802 broker non-votes for this proposal.
Additionally, the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year 2025 was ratified by a substantial majority, with 217,404,799 votes for, 23,073,054 against, and 576,443 abstentions. There were no broker non-votes for this proposal.
The results of these votes were reported to the Board during the meeting that followed the Annual Meeting. This SEC filing provides a transparent view of the shareholder decisions and the ongoing governance of Essential Utilities, Inc. Currently trading at a P/E ratio of 18x with a dividend yield of 3.19%, the company maintains a "Fair" financial health score according to InvestingPro’s comprehensive analysis. For deeper insights into Essential Utilities’ governance and financial metrics, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers. The information for this article is based on a press release statement.
In other recent news, Essential Utilities Inc. reported its financial results for the first quarter of 2025, significantly surpassing earnings expectations. The company achieved an earnings per share (EPS) of $1.30, well above the anticipated $0.81, while revenue reached $783.6 million, exceeding projections by $93.6 million. Essential Utilities also reaffirmed its EPS guidance for 2025, maintaining a range of $2.07 to $2.11. Additionally, the company has been proactive in addressing future growth through infrastructure investments, with plans to invest between $1.4 billion and $1.5 billion in 2025. The firm is exploring new market opportunities, particularly in data center power generation, which could drive future revenue growth. The company also highlighted its ongoing efforts in innovative technology, such as the implementation of Intelis solid-state gas meters. Furthermore, Essential Utilities continues to manage regulatory activities effectively, with new rates and infrastructure surcharges implemented in multiple states. Despite its strong financial performance, the company’s stock experienced a decline, potentially reflecting broader market trends.
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