I assume they told you XIU is DRIPable because they do DRIP minerunningman wrote:I just got off the phone with TDWH and requested a drip of XIC and they say it's not on their drip list, but XIC is. Why is this? Is there a good reason for it? The guy on the phone didn't know.
marcharry wrote:Can someone please explain what it means when they DRIP?
It is "direct reinvestment ...I.P.?" Does it mean that all dividends are directly reinvested to repurchase shares of the same? Without transaction fee.
What is the advantage? More efficiency & less fees?
ukridge wrote:It's perhaps obvious to many, but worth stating in this context anyway - the DRIPs offered by brokerages can't purchase fractional shares. This makes the DRIP useless for small number of shares.
Let's say you buy XIC. Let's say the quarterly dividend is 25 cents, and the price per unit is 60 dollars. Then you need to buy at least 240 shares to get any use out of the DRIP. (Maybe a bit more allowing for price increases).
How did you make out with TDW and the DRIP?
For 14 years he used a small veteran's pension to steadily build up a stake in seven companies: Bank of Montreal, Bank of Nova Scotia, CIBC, Alcan Aluminum, Imperial Oil, Telus, and Molson.
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