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STUDY SHOWS THAT OPEN ENROLLMENT DIVIDEND REINVESTMENT PLANS BROADEN INDIVIDUAL STOCK OWNERSHIP

 GREENWICH, Conn., April 18 /PRNewswire/ -- Dividend Reinvestment Plans (DRP), which allow shareholders to make their initial stock purchase directly through the corporation, have become important tools for increasing individual investor ownership. According to a March 1994 study of 20 corporations considered to have the leading DRP plans, 65% of respondents said they offered "open enrollment." The research, done by Amen & Associates, Greenwich, Connecticut-based investor relations consultants, found one utility company had received over 50,000 inquiries when it began offering open enrollment for its DRP, resulting in 14,000 additional individual shareholders purchasing company stock.
 Key features of the DRP plans at the 20 major corporations included: safekeeping service; targeting of affinity groups; provision to set-up IRAs; discounts on shares purchased; and electronic funds transfer (i.e., debiting a shareholder's checking account). Typically, all transactions are at no cost to the shareholder; some offer a discount of 3-5% on share purchase.
 "The Dividend Reinvestment Plan can be a good weapon in the fight against over institutionalization of a company's shareholder mix," said Robert Amen, President, Amen & Associates, a unit of Ketchum Communications. "The average corporation listed on a major stock exchange has about a 50% institutional investor ownership, with the number exceeding 60% for many major companies. DRPs can help offset the trend," Amen explained.
 Amen & Associates, founded in 1980, provides consulting services to a number of major corporations, including: ABB Asea Brown Boveri, AT&T, Campbell Soup, Church & Dwight, The Dial Corp, First Brands Corporation, GFC Financial Corporation, Nextel Communications, and Quaker State Corporation.
 -0- 4/18/94
 /CONTACT: Robert Amen of Amen & Associates, 203-629-2244/


CO: Amen & Associates ST: Connecticut IN: FIN SU:

SH-PS -- NY096 -- 7724 04/18/94 14:46 EDT
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Publication:PR Newswire
Date:Apr 18, 1994
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