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York Water Co. (NASDAQ:YORW), a utility company with a market capitalization of $506 million and impressive gross profit margins of 74%, announced the results of its annual shareholder meeting held on Monday. The meeting addressed key proposals including the election of directors, ratification of the independent auditor, approval of executive compensation, and adoption of a new long-term incentive plan. According to InvestingPro analysis, the company has maintained dividend payments for 52 consecutive years, demonstrating strong commitment to shareholder returns.
At the meeting, shareholders elected four directors to three-year terms. The elected directors are Paul R. Bonney, Esq., Jody L. Keller, SPHR, Steven R. Rasmussen, CPA, and Robert F. Lambert. Detailed voting results showed significant support for each director, with the majority of votes cast in favor. With a P/E ratio of 24.75 and a dividend yield of 2.54%, York Water continues to maintain its position as a stable utility investment. InvestingPro subscribers can access additional insights, including 6 more exclusive ProTips about the company’s financial health and valuation metrics.
Additionally, shareholders ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The proposal received overwhelming support, with 10,975,247 shares voting for approval.
The compensation of the company’s named executive officers was also approved by advisory vote, with 8,192,811 shares voting in favor. This advisory vote, commonly known as "say on pay," allows shareholders to express their opinion on the appropriateness of executive compensation.
Finally, the adoption of The York Water Company 2025 Long-Term Incentive Plan was ratified, with 8,296,953 shares voting for approval. The plan, detailed in the proxy statement dated March 25, 2025, is designed to align the interests of executives and shareholders and to attract and retain key talent.
The results of these actions demonstrate shareholder confidence in the company’s governance and strategic direction. The company’s continued focus on aligning executive compensation with performance and shareholder interests is reflected in the voting outcomes. Based on InvestingPro Fair Value analysis, the stock appears to be trading above its intrinsic value, suggesting investors should carefully consider entry points.
This report is based on a press release statement and provides a summary of the most significant actions taken by the shareholders at the annual meeting.
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