Beneficial Corporation Launches Direct Stock Purchase Program.WILMINGTON, Del.--(BUSINESS WIRE)--Sept. 25, 1997--Beneficial Corporation today announced the Direct Investment Plan, an enhanced dividend reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. and stock purchase program that allows investors to buy stock directly from the company with low or no transaction fees. Under the Plan, new investors can directly buy their first shares with a minimum initial investment of $250. The first purchase involves only $7.50 in transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and no brokerage commissions. Subsequent purchases by check do not have a transaction fee, subject to a $50 minimum for each purchase and a maximum of $200,000 per year. Purchases can be made weekly, by check or, for a $1.50 transaction fee, through electronic transfer of funds. "This program provides new flexibility and convenience for individual investors, many of whom manage their own portfolios," said Finn M.W. Caspersen, chairman and chief executive officer of Beneficial Corporation. "Cost efficiencies associated with this program for our investors blend well with our mission of providing an attractive total return to investors." In addition to the direct purchase plan, all shareholders who hold common stock in their own name may participate in the dividend reinvestment feature at no cost to them. Other benefits of the plan allow participants to make transfers or gifts and deposit common stock certificates with the plan administrator for no fee. Shareholders may elect electronic deposit of their dividends to their bank account at no cost. Sales of common stock through the plan are subject to a minimal fee. Information about the plan can be obtained by calling 1(800)482-1595. In addition, the prospectus and application are available through Beneficial's Internet Home page (www.beneficial.com). By year-end, the Company also intends to offer the information on its Home page in German, French and Spanish for the convenience of bilingual bi·lin·gual adj. 1. a. Using or able to use two languages, especially with equal or nearly equal fluency. b. U.S. investors. Beneficial Corporation is a $17 billion, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company. Subsidiaries of the Company provide financial services through their various consumer finance, credit card, banking and insurance operations located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, the United Kingdom, Ireland and Germany. CONTACT: Beneficial Corp. Robert Wade Robert Wade or Bob Wade is the name of several notable individuals:
302/425-2500 http://www.beneficial.com |
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