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Subject:  Re: Effects of Qtrly Reinv.? Date:  5/21/1999  11:51 PM
Author:  afilly4fun Number:  8164 of 27955

This is getting interesting....

I have an account with Fidelity, and wanted to start a small one with Waterhouse. With Waterhouse the commission is reasonable, and they reinvest dividends for free, and no charge for certificates. My plan was to transfer shares every quarter from my Drips (the ones that charge to reinvest) to an account at Waterhouse. I wanted to made sure the reinvestment would work...this just sounded to good to be true. So I called Waterhouse, and I mentioned HD and PG....the rep told me that this cannot be done with all companies. He told me that companys with millions of shares out don't want to mess with the paperwork, and he doubted that HD and PG would allow the broker to reinvest the dividends.

Confused now, I called Fidelity. The rep there said that all companys do , then I mentioned what I was told by Waterhouse....then he said, oh I dont think they all do.

Has anyone run into this or have any comments?



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