Globe and Mail column on buying DRIPs through online brokers

Another article on Canadian dividend reinvestment plans (DRIPs) appeared in this weekend in the Globe and Mail. As with other articles on DRIPs, columnist Rob Carrick outlined how one can use DRIPs to build a significant portfolio of stocks and how this is a “get rich slowly” kind of method. This method he calls the classic DRIP.

As a twist though Carrick focused on how you can also use online brokers to start your dividend reinvestment plan. With the help of Robert Gibb, who is probably better known as OperaBob of the The DRiP Investing Resource Center message boards, Carrick highlights how to use the online brokerage houses associated with Canadian banks and those that are standalones.

The piece also lays out how the various online brokers handle their DRIP transactions in a table. While all except for one do not charge for using the DRIP feature, the clear winner in terms of number of available stocks to choose from is TD Waterhouse.

The full article and chart can be found at Building wealth, a DRIP at a time page.

Happy DRIPping,
Ken


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