Skip to main content
No. of Recommendations: 6
I started using a DRIP to buy shares in Piedmont Natural Gas Company, a small gas utility selling natural gas to residential and commercial customers.

I bought the first share of stock through the DRIP, too.

I reinvested dividends and sent off optional cash payments to buy more stock from time to time.

A few months ago I opened an envelope that came in the mail and a check for $300,000 fell out.

Piedmont Natural Gas had sold itself out to Duke Energy, another utility company, for cash.

The check was the value of my shares at the buyout price.

I used to buy stock through a company stock purchase program in the utility I used to work for ---Washington Natural Gas. That was very much like a DRIP.

On another day I opened an envelope and out fell a check for $57,000 when Washington Natural Gas sold itself to an Australian investment company.

I also get notifications on various DRIPS when dividends and such are reinvested.

Makes one take an interest in opening your mail.

Not just BILLS there!

Seattle Pioneer
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.