The York Water Company YORW board of directors announced a hike in the quarterly dividend to 17.33 cents per share, up 4.0% from the previous rate.Details of the HikeThe quarterly dividend is payable on Jan 15, 2019 to shareholders of record as of Dec 31, 2018. This marks the company’s 592nd uninterrupted dividend payout and 22nd consecutive year of dividend increase.The current annualized dividend yield of the company is 2.11%, higher than the industry’s 1.96% and the Zacks S&P 500 Composite’s 1.96%. Increase in distributable income reflects the company’s stable financial position. In the first nine months of 2018, the company reported net cash provided by operating activities of $14.4 million.Reasons for the Dividend HikeFor the first nine months of 2018, the company invested $10.7 million in construction expenditures. The investment enabled the completion of a raw water pumping station as well as various replacements and improvements to infrastructure. Aging infrastructures of water utilities require regular investments to provide uninterrupted services.Revenues of the company are also boosted by growth in the water customer base. The average number of water customers served in the 2018 period increased by 687 customers to 67,664 from the 2017 levels.There are other players from the same sector that are increasing dividends to reward shareholders.On Oct 12, 2018, Ameren Corporation AEE approved a 3.8% quarterly cash dividend raise on its common stock of 47.5 cents per share. On Oct 23, American Electric Power Company, Inc.’s AEP board of directors declared a regular quarterly cash dividend of 67 cents per share on the company's common stock, up 8.1%. On Nov 7, Atmos Energy Corporation’s ATO board of directors announced 8.3% hike in the company’s quarterly dividend to 52.5 cents per share.Zacks Rank & Price MovementThe York Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The York Water‘s shares have gained 8.2% in the past three months compared with the industry’s rise of 3.4%.Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.It's not the one you think.See This Ticker Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ameren Corporation (AEE): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report Atmos Energy Corporation (ATO): Free Stock Analysis Report The York Water Company (YORW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research