Posted: 7/31/2016 1:50:22 PM EDT
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I like this way of investing, as I really just have them draft some cash every month from my account, and then the dividends just go to buy more stock. I pay the taxes on the dividends at tax time every year. Some excellent companies doing this.
So I have some stock in 2 electric companies that have DRIPs. The first one, my dad started for me when I was young, with him listed as custodian - he just transferred me a few shares to get started. The second one, I was a customer of, and customers could start investing directly, without a broker. Question is, how do you get stock in a company that has a DRIP but you don't have stock in? I've never invested in stocks directly. Specifically, I know you can get an online account and buy stock, but then is the stock held in the same of the online brokerage? because some of the DRIP companies will let you put your stock in the DRIP program, but the stock has to be in YOUR name, not in the name of a brokerage company.... |
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I don't know about about investing directly but pretty much every stock I hold through Merrill Lynch permits automatic dividend reinvesting.
From my online account page I just go to the Dividend Reinvestment page and select how I want dividends from each stock to be handled. Works the same way with E-Trade and I'd imagine most other online brokers. |
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Quoted:
I don't know about about investing directly but pretty much every stock I hold through Merrill Lynch permits automatic dividend reinvesting. From my online account page I just go to the Dividend Reinvestment page and select how I want dividends from each stock to be handled. Works the same way with E-Trade and I'd imagine most other online brokers. this is pretty much how it works every where. |
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While you are looking at Computershare take a look at Aqua America. WTR They have a DRIP where dividends purchase new shares at a discount. Now, WTR does have a high PE, so you might want to wait for a price drop. Prices some times drop in October, don't they? Posted Via AR15.Com Mobile |