Finance History|11 Wall Street — Eleven Million Piedmont Shares Print DUK
· 1961-7
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Finance History|11 Wall Street — Eleven Million Piedmont Shares Print DUK
kevin
People treat Duke Energy as a Charlotte holding company that always printed DUK on a finished multi-state book.
The 1961 issuer was still Duke Power Company, a Carolinas operating utility whose common had traded with unlisted privileges on the American Stock Exchange.
The Transylvania Times of 13 July 1961 recorded that the common was traded for the first time on the New York Stock Exchange floor on Wednesday morning, 12 July 1961, under the symbol DUK.
The initial listing was 11,505,077 shares: 11,395,580 issued and outstanding, plus 109,497 shares authorized for the employee stock purchase-savings program.
Executive vice president O. J. Miller bought the first 100 shares on the floor that morning.
A North Carolina periodical abstract of the same month put outstanding common above 11 million shares, with about 109,000 more authorized.
The company then served about 720,000 customers across a 20,000-square-mile Piedmont crescent in North and South Carolina.
The mechanism is an operating utility leaving the unlisted tape for the Big Board. Holders bought a listed hydro-and-steam book, not a later multi-state holding company.
On 12 July 2021 the parent marked sixty years on the Exchange by ringing the opening bell. The symbol is still DUK.
The pin is the Broad Street facade of the Exchange. Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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