My AWK is held in a SmithBarney IRA account. I elected an automatic dividend reinvestment plan on all stocks that I have in this IRA. SB provides this at no cost. In the past I've encouraged others to join this DRIP program offfered by AWK and I know of at least one other that has done so. Wonder if I'm getting the 2% discount? DRIPs and compounding....ISN'T IT GREAT!!!!!!!!!!!!!!
Drop in price likely due to overall market decline. I don't know how many DRIP investors there are, but the decrease from 5 to 2% of the stock price can only help AWK's bottom line - its probably negligible but nonetheless good for the Co. in reducing expenses. Not many companies offering DRIPs offered a discount to begin with. I agree with you - I like AWK and will continue to increase my position by purchasing more shares.
It was my understanding that there was no discount applied to the purchase of stocks through its DRiP program. I do believe that they used to have a discount, but was discountinued a while back. The 2% discount is definitely a great move and would push me into purchasing other shares.