In the United States, there is no publicly listed company that can compare with York Water Company in terms of dividend payouts. This relatively unknown small-cap stock has been consistently paying dividends for over two hundred years, surpassing giants like Coca Cola, Exxon Mobil, and Lilly.
Compared to Coca Cola, Exxon Mobil, and Lilly, which have a global presence and massive valuations, York Water only provides water and wastewater services in 56 cities across four counties in south-central Pennsylvania, with a market value of around $500 million and a daily average stock trading volume of only 5,850 shares.
The absolute uniqueness of this obscure water utility company lies in its dividend history.
Since its establishment in 1816, York Water has been paying dividends every year for a total of 208 years, surpassing Exxon Mobil by 66 years, Lilly by 69 years, and doubling Coca Cola's 104 years.
One of the main reasons York Water has been able to pay dividends for two centuries is that its customers' consumption habits do not change significantly each year, ensuring a transparent and predictable cash flow.
The water utility sector typically operates in a monopolistic or oligopolistic manner, meaning York Water does not have to worry about sudden competition stealing its customers.
Another reason is that it is a regulated utility company. This means it cannot raise customer rates without approval from the state public utility commission.
While regulation may seem restrictive on the surface for utility companies, it actually works in their favor. Regulated utility companies avoid potential wholesale price fluctuations, ensuring they can generate predictable cash flow each year.
The ability to predict cash flow accurately gives management the confidence to make substantial investments in infrastructure projects and acquisitions without affecting dividends or earnings per share.
Lastly, York Water's 2.4% yield is not as low as it seems. Since the early 21st century, York Water's stock price has surged by 525% (outperforming the S&amp;P 500 index), and with dividends included, it has risen by 1100%.
Despite its smaller size, York Water is destined to be a unique and remarkable company in the U.S. stock market, thanks to its long history, stable business, consistent dividend payments, and outstanding long-term stock performance.

The dividend payout period is 66 years longer than Exxon Mobil, 69 years longer than Eli Lilly, and twice as long as Coca Cola (104 years).

This company has quietly paid dividends for over 200 years.