On Sept. 12, yesterday, I enrolled online through Computershare into Aqua America's stock purchase plan.The projected date the initial $500.00 will be drawn from my account is the 18th and the projected investment date is the 22nd. Any ideas what takes so long.Since this will be a DRP and I plan on keeping it for the long term, I'm not so price sensitive, but it shouldn't really take 10 days to make the purchase...should it?I guess there needs to be time to set up the account and make the purchase, but 10 days. Seems a little long to me.Otherwise, I was extremely happy with the process and am glad I finally pulled the trigger on WTR...have been watching it for awhile now.Matt
Matt,You may want to check when purchases are actually made (ie once a month, first and 15th, every thursday, etc). Many DRiP programs only purchase monthly, some weekly. The agent will draw funds a few days in advance to "make sure they clear" (from the days of checks) then there is a lag between when they make the purchase and the stock is 'cleared' for your account, usually 3 days. Once the process is repeated it becomes less of an issue. This is also why many people shy away from DRiP plans....impatience with the lag times. Hope this helps.WyneFool *long WTR*
The projected date the initial $500.00 will be drawn from my account is the 18th and the projected investment date is the 22nd. Any ideas what takes so long.Matt, most DRIPs do all their buying and selling on one or two days of a month. So, I'm guessing the 22nd is the buy date for WTR. You can go to their site and find out, but I don't worry about such things.
I didn't think that them only making purchases at certain times of the month. That would make sense.And it would also make more sense to wait to debit that purchase amount until it was closer to purchase date and to take the money and sit on it for a month. I would be extremely agrivated if that had happened...So I guess I am glad they waited to take my money instead of grabbing it out of my account and setting on it.Being as though is a DRP for me, I wasn't that concerned just couldn't think why it would take that long.
I'm also in the same boat I'm awaiting shares.
I'm relieved I just got those shares issued on the 20th.
I'm relieved I just got those shares issued on the 20th.Congratulations, you are now officially on your way to becoming rich!
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