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The account was setup for me when I graduated from high school four years ago (before I knew ANYTHING about investing). I've accumulated plenty of knowledge about investing since, but I'm still not entirely sure how to play this DRIP game.

This is what I believe happened four years ago: The person who gave me one share of Intel already owned stock in the company through their DRIP plan. When the share was signed over to me, it was not actually enrolled in the DRIP plan (or thru an optional cash payment plan) because I started receiving pitifully small dividend checks. Not too long after that, the required paperwork was filed that allowed those dividends to be reinvested.

With splits and reinvested dividends I now have 4.018 shares. Apparently, though, I need to contact Harris to get them to hold the stock certificates for me. Since the account was opened, they've sent me two additional certificates (after splits).

My original question was whether it would be at all helpful to transfer the shares over to Suretrade since I didn't want to hold the actual certificates. Perhaps I should contact Harris -- they will hold them for me, right? That'd be swell ...

Do you think Suretrade allows for monthly (fee-free) purchases of DRIP stocks? That was another issue for me: If they do, I might just transfer the shares ... if only to decrease the number of places my money/securities reside.

Sorry for the long post.


Nick (just another Fool)
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