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Thread: how to DRIP in questrade?

  1. #1
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    how to DRIP in questrade?

    is it possible to DRIP a dividend stock/etf in questrade? how does one set this up, or is it automatic, once your dividend payout is enough to buy another unit?

    thanks!


  2. #2
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    It used to be easy to find on their site but I didn't have any luck just now. There's a form you fill out and fax/mail in where you indicate "all eligible securities" or "these selected securities...". After you send in the form it's automatic.

  3. #3
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    Thanks for the reminder - I need to do this as well.

    This explains the plan: http://www.questrade.com/trading/sto...dend_plan.aspx

    To get the form:

    Login to MyQuestrade and go to: http://media.questrade.com/downloads...chase_auth.pdf

    Put the securities you want to enrol in the appropriate boxes and then I believe you have to mail the form to Questrade.
    Mike Holman
    Money Smarts Blog Investing and Personal Finance

  4. #4
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    Quote Originally Posted by lewin View Post
    It used to be easy to find on their site but I didn't have any luck just now. There's a form you fill out and fax/mail in where you indicate "all eligible securities" or "these selected securities...". After you send in the form it's automatic.
    IIRC these are synthetic drips though, so you do not get partial shares or any of the DPP or DRIP benefits offered by dripping through the actual company.

  5. #5
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    Quote Originally Posted by tendim View Post
    IIRC these are synthetic drips though, so you do not get partial shares or any of the DPP or DRIP benefits offered by dripping through the actual company.
    Yup - that's true of all the discount brokerages.
    Mike Holman
    Money Smarts Blog Investing and Personal Finance

  6. #6
    Senior Member humble_pie's Avatar
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    some discounters do offer the nice discount to average market price for the pricing period, though.

    like 2-5% off market price for the dripped shares.

    don't know if questrade does this ...

  7. #7
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    On questrades site they said they will buy shares at the market price.

    On a related question:

    What would happen if you setup the synthetic drip through Questrade, then later find out that the shares you own are giving a DRIP discount, so you setup the drip directly though the company?

    I'm guessing but I would think that the company drip would happen first, and therefore Questrade wouldn't have any dividend to drip with.
    Last edited by dilbert789; 2011-10-19 at 04:27 PM. Reason: added related question

  8. #8
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    Quote Originally Posted by humble_pie View Post
    some discounters do offer the nice discount to average market price for the pricing period, though.

    like 2-5% off market price for the dripped shares.

    don't know if questrade does this ...
    Humble - do you know which ones offer this?
    Mike Holman
    Money Smarts Blog Investing and Personal Finance

  9. #9
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    Quote Originally Posted by dilbert789 View Post
    On questrades site they said they will buy shares at the market price.

    On a related question:

    What would happen if you setup the synthetic drip through Questrade, then later find out that the shares you own are giving a DRIP discount, so you setup the drip directly though the company?

    I'm guessing but I would think that the company drip would happen first, and therefore Questrade wouldn't have any dividend to drip with.
    You would have to request a share certificate to drip the shares directly, I have no idea what Qtrade charges for that ($50 w TDW), then register the shares, and begin dripping. You only need 1 share to begin dripping on your own, so you would not have to request a cert for all shares from Qtrade.

    More info on dripping that may help you in this regard at www.dripinvesting.org

  10. #10
    Senior Member Toronto.gal's Avatar
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    I don't remember exactly, but someone said that Qtrade charged $250 for the certificate or something close to that.

    Scroll down to see the discount list.

    http://cdndrips.blogspot.com/

    "Colour in a picture is like enthusiasm in life."

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