A review of total shareholder returns shows how growth and merger strategies drove performance last year.
Dean C. Maschoff, Thomas F. Read, and Jason K. D’Souza
To better understand the performance of the electric utility sector from both a short-term and long-term perspective, we examined the total shareholder return (TSR)—dividends plus change in stock price—of 58 electric companies for 2005 and for three- and five-year periods. We grouped these companies into four categories to better understand the impact of alternative strategies on investor performance: Recovering, Traditionalist, Growth, and Merger.
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