UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d)
of
the Securities Exchange Act of 1934
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Date
of Report: November 25
2008
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(Date
of earliest event reported)
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THE
YORK WATER COMPANY
(Exact
name of registrant as specified in its charter)
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PENNSYLVANIA
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0-690
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23-1242500
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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130
EAST MARKET STREET
YORK,
PENNSYLVANIA
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17401
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(Address
of principal executive offices)
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(Zip
Code)
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(717)
845-3601
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(Registrant's
telephone number, including area
code)
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Not
Applicable
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(Former
Name or Former Address, if Changed Since Last
Report)
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Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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THE
YORK WATER COMPANY
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Item
8.01
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Other
Events
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THE
YORK WATER COMPANY ANNOUNCES:
552ND
CONSECUTIVE DIVIDEND,
4.1%
DIVIDEND INCREASE
AND
COMPLETION OF THE ASBURY POINTE ACQUISITION
York, Pennsylvania, November 25,
2008: The York Water Company's (NASDAQ:YORW) President and CEO, Jeffrey
R. Hines, announced today that the Board of Directors at their November 24th meeting
increased the quarterly dividend from $0.121 per share to $0.126, a 4.1%
increase. The dividend is payable January 15, 2009 to shareholders as
of record date December 31, 2008.
This is
the 552nd
consecutive dividend paid by The York Water Company and is the twelfth
consecutive year that the Company has increased its dividend. York
Water, which is the oldest investor owned utility in the nation, has paid
dividends for 192 consecutive years beginning in 1816.
York
Water also announced the completion of the Asbury Pointe acquisition on November
24th. Asbury
Pointe, which serves approximately 800 people in 250 homes, is now a part of
York Water’s service population of over 170,000.
According
to President Hines, “As we have for the past 192 years, York Water continues to
grow to meet the water needs of the region. In addition to this
acquisition, we’ll continue to invest in replacing and upgrading our
infrastructure and anticipate capital expenditures of over $17 million in
2009. Our recent issuance of $15 million in Pennsylvania Economic
Development Financing Authority Exempt Facilities Revenue Bonds and the proceeds
of a recently approved $5.9 million rate increase are being used to fund current
and future capital projects. Looking forward, York Water will
continue to evaluate the financial markets for long term debt and equity
opportunities and we will work with our lenders to expand our short-term lines
of credit as needed. York Water currently has $28 million in short
term lines of credit, of which approximately one-half is still
available.”
This news
release may contain forward-looking statements regarding the Company’s
operational and financial expectations. These statements are based on
currently available information and are subject to risks, uncertainties, and
other events which could cause the Company’s actual results to be materially
different from the results described in this statement.
THE
YORK WATER COMPANY
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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THE
YORK WATER COMPANY
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Date:
November 25, 2008
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By:
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/s/Kathleen M. Miller | |
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Kathleen
M. Miller
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Chief
Financial Officer
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