ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, December 5, 1996 TAG: 9612050062
SECTION: BUSINESS PAGE: B-6 EDITION: METRO IN BUSINESS
SOURCE: GREG EDWARDS
Roanoke Gas Co. is including a flier in this month's bills aimed at persuading its customers to invest in the company's stock.
The utility operates a stock ownership plan that lets customers avoid brokerage commissions or service charges. Gas customers can buy stock with cash or through monthly deductions from their bank accounts.
The customer ownership plan is part of the company's dividend reinvestment and stock purchase plan, which provides about a fifth of its annual $4.5 million construction and equipment budget, according to John Williamson III, vice president of finance.
In its fiscal year ended Sept. 30, the company gained $389,768 through outright stock purchases, and the purchase of stock with re-invested dividends generated another $286,264, Williamson said.
The company has realized $2.98million from its customer stock ownership plan since it began in the fall of 1993, he said.
LENGTH: Short : 27 linesby CNB