#7 - York Water (NASDAQ:YORW)
The last of the cheap dividend stocks on this list is the York Water Company (NASDAQ: YORW). York Water owns and operates three wastewater collection systems, ten wastewater collection and treatment systems, and two reservoirs.
Utility companies are among the best dividend stocks that investors can own. And York presents a particularly strong case for investors. Not only has the company increased its dividend payment for 26 consecutive years, but in 2023, the company extended its yearly streak of uninterrupted dividends to a whopping 208 years.
Along with the safety of that dividend, York is posting increasing revenue and earnings. Investors have overlooked that in the last 12 months, the stock has gone down 22%. However, as investors may start looking for more value, ignoring the value YORK stock provides will be difficult.
About York Water
The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.
Read More - Current Price
- $31.09
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
Are you interested in finding more cheap dividend stocks? MarketBeat can help. MarketBeat offers a free tool that provides an updated list of stocks that meet the same criteria as the stocks in this presentation.
You can access this list under the Financial Calendars tab on Marketbeat.com. Once you're there, simply click on the link for Cheap Dividend Stocks. The page operates as a screener, letting you filter for a variety of metrics that are important to you.
And remember, dividend yield may not be the most important consideration when looking at dividend stocks. Some investors prefer to look for companies that have a history of increasing their dividend year after year. These stocks take many names, such as Dividend Achievers, Dividend Aristocrats and Dividend Kings. Each name defines the number of consecutive years a company has increased its dividend.
One final note: like any stock, success with cheap dividend stocks is about having the patience to hold the stock for a length of time that allows the power of compounding to work for you. Over time, the ability for both capital gains and dividend growth is one of the best pathways to wealth.
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