Participation rates of dividend reinvestment plans: Differences between utility and nonutility firms

Janet M. Todd and Dale L. Domian

Review of Financial Economics, 1997, vol. 6, issue 2, 121-135

Abstract: This paper examines survey data to study features of dividend reinvestment plans and their relationship to participation rates. Differences between utility and nonutility firms are examined. Discount features and new issue shares are found to be used more often by the utility group, while both groups allow cash contributions along with the dividend reinvestment. Discount features and high returns are correlated with higher participation rates. There is also some preliminary evidence that participation rates by large blockholders may increase trading volume.

Date: 1997
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https://doi.org/10.1016/S1058-3300(97)90001-X

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Persistent link: https://EconPapers.repec.org/RePEc:wly:revfec:v:6:y:1997:i:2:p:121-135

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