The Dividend Reinvestment Plan (DRIP) automatically reinvests dividends received from eligible stocks and ETFs.
All Marginable U.S. equities priced above $4.00 per share and selected foreign securities are eligible.
If the dividend amount is insufficient for a whole share, fractional shares will be received provided that the security is fractional-trading-enable.
The reinvested shares will be purchased at the market price on the dividend pay date.
Securities can be set up for DRIP on the day the security is purchased, but dividend reinvestment will not begin until 5 business days after enrollment. Dividends with a record date before this date will not be reinvested.
For example, if stock XYZ was trading at 10 dollars a share and you receive 25 dollars in dividends, 2.5 shares of XYZ will be added to your positions.
How do I enable/remove DRIP in my account?
Access the Dividend Reinvestment page by clicking on “My Accounts -> Positions -> Dividend Reinvestment”.
Enroll in one of two ways:
(Option 1) Toggling the switch Enroll account in DRIP will enable or remove dividend reinvestment on all eligible securities in the account.
(Option 2) Checking the Edit Enrollment box allows selecting each security to enable or remove from DRIP.
Note: Dividend Reinvestment Plan enrollment requests will take effect within 5 business days.