I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These two Virginia Utility Corps, led by Richmond-based Dominion Resources, had an average stock market price increase of an impressive 39% since President Obama took office on January 20, 2009.
And this strong 39% average stock market price increase during the Obama Administration is significantly understated in real terms since it does not include the huge amount of cash dividends Utility Corp investors have received in the past 15 quarters of the Obama Administration.
Investors buy Utility Stocks mainly for the robust cash dividends they receive, not for longer-term stock price appreciation.
And yeah, the Obama Administration did play a key role in this very robust Virginia Utility Corp stock price increase.
With its wise actions to fix the broken US financial system, the Obama Administration substantially reduced the elevated risk which was in Utility Stocks after the 2008 financial collapse. These actions resulted in increasing the stock prices of Utility Stocks.
Further, with the Obama Administration working closely with the Fed, interest rates were substantially reduced, thereby significantly benefiting Utility Corps, which have a very heavy debt load due to their substantial investments in Property, Plant and Equipment. Thus, Utility Corps are now able to borrow at much cheaper interest rates.
All Virginia Utility Corp executives, all of their employees, their Boards of Directors, and their stockholders have to all be very happy with the stock market performance of their fine Virginia Utility companies during the Obama Administration.
And these same Virginia citizens also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to fix the clearly broken US financial system and to also create a US economic environment that permitted companies to flat out flourish. This highly successful effort created a robust US economic environment which was quite a change from what existed in the just horrible financial meltdown, near Depression year of 2008.
Below here are the common stock market closing prices of both of these Virginia Utility Corps at both yesterday's date, October 23, 2012, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
|Virginia Utility Corps|
|Average Increase of Both||39%|