Sunday, April 19, 2009

DRIP Investing

I've been researching options for DRIP (Dividend Reinvestment Plan) Investing.

I'm currently using BNY Mellon (Choose investment plan enrollment) . This is where my holdings for General Electric, AmBev, and China Mobile are. I enjoy the website, easy to use. You get an investor number, where holdings are grouped. My only complaint is that my GE and CHL holdings are under on number, but my ABV was issued under another. Note, there is an option to group IDs together if you have multiples, but this involves a phone call and I haven't done that yet. There are plenty of holdings to choose from, I'm thinking of adding American States Water Company (AWR) , and Waste Management Inc (WMI).

The other option that I'm looking at is Computershare. This is the transfer agent for Walmart, Coca-Cola, McDonald's, Exxon and so on. This looks like a good option and one I'm wanting to try soon. The only issue is that all foreign investors have to invest via a mail in form, no online access. I will report soon.

Note all of these require US funds drawn on a US bank. I've used RBC Access USA to establish a US bank account. See my previous post,RBC Access USA.

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Thanks for your input into the discussion.