Value Buy
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Joined: Dec 20, 2010 17:57:07 GMT -5
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Post by Value Buy on Jan 8, 2018 9:06:41 GMT -5
I have most of our stock holdings in drip plans, but I have more companies making it less productive to participate in. NI is changing their plan. They have switched to computershare CIP and the drip program charges a quarterly fee of 5% of the reinvestment amount up to $5 and $.05 for every share purchased. This will basically cost me about six shares worth of lost shares due to the fee, every year, which to me is ridiculous. Batch orders are $15 plus $.12 a share, market orders, $25 plus $.12 a share. I stopped participating with anything from Wells Fargo several years ago due to outrageous costs involved with the drip programs they ran. Anyone have a better way of doing this? Should I drop the drip, and if so any suggestion would be helpful. I am wondering if more companies will these fees on their stock holders and this is a growing trend.
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nlt
New Member
Joined: Mar 12, 2016 11:44:39 GMT -5
Posts: 28
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Post by nlt on Jan 8, 2018 21:47:36 GMT -5
TD Ameritrade doesn't charge for DRIP. You can turn each individual stock on or off for DRIP at any time with a single click.
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