YORK, Pa., June 29, 2009 (GLOBE NEWSWIRE) -- The York Water Company (Nasdaq:YORW) announced today that it has been added to the broad-market Russell 3000(r) Index after the Russell Investment Group published its comprehensive set of U.S. and global equity indexes on June 29, 2009. The Russell 3000 Index measures the performance of the largest 3,000 U.S. Companies. Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies.
Each year, the Russell Investment Group rebalances its indexes during its annual reconstitution. Russell reconstituted its 25 US indexes in order to accurately weight the 4,000 largest companies in the US stock markets by market capitalization (of float) and in so doing provide a truer reflection of stock market activity and performance.
According to York Water President and Chief Executive Officer Jeffrey R. Hines, "Inclusion in the Russell 3000(r) Index is an indicator of the solid performance of our Company over the past year and demonstrates our strengthened market position during these very difficult times." Hines added: "Being included in the highly-respected Russell 3000(r) Index is a milestone for York Water and reflects greatly on the fine traditions of this 193-year-old company and our exceptional customers, shareholders, regulators, and employees."
The York Water Company was founded in 1816 and is the oldest investor-owned utility in the nation. The business of the Company is to impound, purify and distribute water. The Company, which is regulated by the Pennsylvania Public Utility Commission, operates entirely within its franchised territory, which covers portions of York and Adams Counties, Pennsylvania.
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This release contains forward-looking statements that are subject to various risks and uncertainties. A discussion of factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations is available in the Company filings with the SEC. Those factors may include changes in general economic conditions, increases in costs, changes in regulation and other factors. The Company undertakes no obligation to update forward-looking statements to reflect changes occurring after the date hereof.