The world of Dividend Reinvestment Plans is constantly changing. These past few weeks have been no different. Since my last update I have made four changes to my list of Canadian DRIPs & SPPs. I have included links to some stories announcing the updates. I have added the following new plan : Equitable Group Inc. (TSX:ETC) Equitable Group Inc. announces Dividend Reinvestment Plan I have deleted the following two plans : Advantage Energy Income Fund (TSX:AVN.UN) Advantage Announces Intention to Convert to a Growth Oriented Corporation and a Strategic Asset Disposition Program to Increase Financial Flexibility Boyd Group Income Fund (TSX:BYD.UN) - DRIP terminated I have updated the following plan : NAL Oil & Gas Trust (TSX:NAE.UN) – DRIP reinstated NAL Oil & Gas Trust Announces March Distribution and Reinstatement of the DRIP As always, if you see any discrepancies please post a comment. Happing DRIPping, Ken
List of Canadian DRIPs & SPPs Company Symbol DRIP? SPP? Discount? Minimum Maximum Aberdeen Asia-Pacific Income Investment Company Limited FAP Y Y N $100/Month $20,000/Year ACTIVEnergy Income Fund AEU.UN Y Y 5% $100 - AGF Management Limited AGF.B Y N N N/A N/A Agnico Eagle Mines Limited AEM Y Y 5% US$100 US$20,000/Year Allied Properties REIT AP.UN Y N 5% N/A N/A AltaGas Income Trust ALA.UN Y Y 5% $1,000 $100,000/Month ARC Energy Trust AET.UN Y Y 5% $500 $3,000/Month Arctic Glacier Income Fund AG.UN Y Y 5% $1,000 $12,000/Year Artis REIT AX.UN Y Y 4% $1,000 $10,000 Bank of Montreal BMO Y Y 2% - $40,000/Year Bank of Nova ...
I have received several inquiries lately as to whether I am Derek Foster or if I have some affiliation with him. To set the record straight, I am not him nor do I have any relationship to him. The reason the confusion has come about is that this blog was mentioned in Foster's second book entitled The Lazy Investor: Start with $50...and no Investment Knowledge published in 2007. It highlighted his venture into Dividend Reinvestment Plans (DRIPs) and how others can get started the same way. As people came to my site they began asking me questions about investing and money matters thinking I was him. For those who don't know about Foster, he bills himself as Canada's Youngest Retiree. He wrote his highly successful book STOP WORKING: Here's How You Can Using the Strategy of Canada's Youngest Retiree in 2005. It was a national bestseller and it also spawned a third book called Money for Nothing: And Your Stocks for FREE in 2008. For anyone looking to talk to Derek, you can ...
There have been three changes since my last list update. I have included a link to each story announcing the Dividend Reinvestment Plan updates. I have added the following new plan : Realex Properties Corp. (TSX:RLX) Realex Properties Corp. announces Dividend Reinvestment Plan I have deleted the following plan : Homburg Invest Inc. (TSX:HII.B) - DRIP terminated Homburg Invest Inc. announces dividend policy I have updated the following plan : Royal Bank of Canada (TSX:RY) – 3% discount added Royal Bank of Canada announces amendments to its dividend reinvestment plan As always, if you see any discrepancies please post a comment. Happing DRIPping, Ken
In the Friday, February 27, 2009 edition of The National Post, columnist Jonathan Chevreau talks about the fact that the Royal Bank (TSX:RY) has "sweetened its dividend reinvestment plan (DRIP) by offering a 3% discount for common and preferred shareholders wishing to reinvest their dividends in more RBC stock." This move falls on the heels of both The Bank of Montreal (TSX:BMO) and The Bank of Nova Scotia (TSX:BNS) which each implemented a 2% discount late last year. As for me, I love discounts! They can increase your postion faster and at less cost. And as Chevreau says, "With banks yielding a mouth-watering 6.27% to 9.72% these days, what's not to like if you're an income-oriented investor with a long time horizon?" The full article can be found at: Drip discount tough to avoid
