Go to Jeff Salisbury LWGate Home Page.From: Derrick Cole <dccole@mindspring.com>
Subject: Re: Are Drips Worth It?
Date: Tue, 01 Sep 1998 18:24:23 -0400
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I had Intel as well. First, I opened a brokerage account (I chose Waterhouse; I'm just a satisfied customer). Second, I informed each of my DRIP Plan Administrators that I wanted a stock certificate issued for all whole shares, a check from the sale of the fractional share, and my DRIP account closed. Over the next 2-4 weeks, I began receiving the certficates and checks. I then simply endorsed over the formers and deposited the latters into the brokerage account (and of course signed up for free reinvestment of dividends for all stocks/funds held in the account). Voila! As I stated in my previous, I utilized DRIPs to enmass equity a little at a time (from nothing), without being swamped with commissions on such small contributions. I, too doubt I'll need to use them again myself, now that I've established a brokerage account from same. Derrick linda_buchanan@icpphil.navy.mil wrote: > On Aug 27 Derrick Cole wrote > "... I've since consolidated my DRIPs into a single > discount brokerage account with free dividend reinvestment, and > can "enjoy" the improved liquidity, single statement, etc." > > How did you do that? I have Intel as a DRIP that I probably > should consolidate in the same way to make it easier to sell, > etc. With the advent of discount brokers I don't think I will > ever do a DRIP again. I have enough paperwork in my life. > > Lindab_29@hotmail.com > > > - - -
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