Re: Are Drips Worth It?

From: Derrick Cole <dccole@mindspring.com>
Subject: Re: Are Drips Worth It?
Date: Tue, 01 Sep 1998 18:17:07 -0400

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$70?  Wow.  Intel's DRIP is also serviced by Harris; when I "cashed out",
I don't remember _any_ commission...  Maybe $10?

If you're referring to stocks held in a DRIP account, no, you don't need
100 shares to transfer.  I was told by Waterhouse that the best way to
transfer DRIP-held stocks was to have the Plan issue a certificate for
the shares you own, then endorse them over to your broker.

More than likely, the Plan will sell any fractional share you own and
issue you a check, in addition to the stock certificate for x whole
shares.

Good luck,
Derrick

marjorie.abrams@santafe.cc.fl.us wrote:

>      I'm not convinced that they are.  Recently, I wanted to sell
>      my position (93 shares) in Motorola.  I had no control over
>      when the stock would be sold by Harris Bank and Trust.  And,
>      when it was sold they charged a $70. commission!!!  I'm
>      ready to get out of my Drips and use a brokerage Div.Reinvest.
>      In order to transfer these funds, I understand I need 100 shares
>      for a stock certificate.  Is that right?  Marjorie
>      <marjorie.abrams@santafe.cc.fl.us>
>
> -

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