York Water Co (YORW) 2018年年度报告「NASDAQ」.pdf

1、2018 Annual ReportforYears Sustaining Our Communitys Future203Above:Lake Williams spillway under construction in 1911.Below:A foreman poses at the 48”diameter outlet valve during construction in 1911.In 1912,York Water Built Its First Reservoir,Lake Williams.This first large dam in York County incre

2、ased our communitys water supply from 8 million gallons per day to 14 million gallons per day to serve a growing manufacturing town.The construction of this Crucial Infrastructurehelped to make this a“drought-proof”community.Over the past 106 years,the dam has been well-maintained and inspected,and

3、is now in the process of getting some additions for its Second Century of Service!Dear Shareholders,Welcome to the Annual Report forAmericas Oldest Public Company!I am pleased to report that 2018 continued our unsurpassed record of 203years of service to our community.Dividends and Shareholder Value

4、:An American Record!Our net income increased by 3.1%to$13.4 million in 2018.Earnings per shareincreased 3.0%to$1.04.Net income and earnings per share(EPS)were$13.4 million,and$1.04,respectively,compared to$13.0 million and$1.01 in 2017;In 2018,the Board of Directors approved a 4%increase in the quar

5、terly dividend to an annualized rate of$0.69 per share;The Companys long-term performance is strong with three-year average annual total shareholder return at 14.2%and three-yearaverage annual return on equity of 10.6%.The Company is making significant investments to build and improve itscommunities

6、 infrastructure.Over the past three years,the Company hasinvested nearly$55 million in infrastructure improvements,includingsystem improvements and infrastructure to ensure a safe,adequate,andreliable supply of drinking water and to maintain proper handling anddisposal of wastewater for all customer