Re: Are Drips Worth It?

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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