No. of Recommendations: 1
Hey there, sorry for not scrolling through the 18,702 Foolish replies that were sent to you about your query regarding the DRIP plans. You may already be well informed about the server equiserve.com which has now become computershare. This company functions as the transfer agent for several hundred bigger companies (most are large caps). I have been using this very helpful site now for a couple of years and it is set up super conveniently, even for the novice. It provides a list of companies with which it deals and each one of these has the plan info available i.e. optional cash purchase fees, dividend reinvestment fees, whether or not you need one share to join the program and a whole smorgasbord of other useful stuff. Many great cash flush companies such as Exxon, Altria, Nike, etc, dont even require one share to be purchased before entering the program. Usually there will be a minimum $250 or $500 minimum first purchase amount. If you are seeing red right now at these such companies there are still many other companies you might find more agreeable to your portfolio. I have DRIP plans from computershare with companies such as Coca Cola, Johnson and Johnson, and Wrigley's. These three me to be a registered shareholder (with shares in book entry form). I solved that dilemna by buying just one share of each of these companies via frameastock.com, which will sell you that most coveted share you need to enroll in that all precious DRIP plan of your choice. These shares are in book entry form and they carry with them a transfer agent fee and they make you buy a frame with your stock (go for the econo frame option which is something like 2.95). After that and about a month wait you will be a registered shareholder and will get a password where you'll be able to create an online DRIP account with your company. The upfront fees are a bit detestable but after that if you enroll with the right plans you will never be hit with any fees ever again!!!! woohoo! And since you are likely in this for the long run, this sort of plan makes perfect sense from an economic (a.k.a.your wallet) perspective. I hope this will be of help though it was probably more than you ever wanted to know about the subject. Please dont hesitate to ask any questions! Yours, Caribdrifter
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.