The dividend reinvestment plan (DRIP) is a free program that
allows cash dividends you receive to automatically be used
to purchase additional whole or fractional shares of your
investment. This lets shareholders accumulate stock over the
long term without paying commission fees.
Yes. All marginable U.S. equities and selected American
Depository Receipts (ADRs) priced at $4 or more that trade
either on an exchange or quotes on NASDAQ are eligible for
DRIP. Dividends are reinvested on your behalf on the
dividend payable date by our clearing firm. The reinvested
position will reflect in whole and fractional shares. The
reinvestment price will be the prevailing market price at
the time the order is entered on the payable date.
We can set up your entire account so that any eligible
security that you currently hold will be subject to DRIP.
Any eligible securities that you purchase thereafter will be
automatically enrolled in DRIP. A security will need to be
enrolled for DRIP prior to the ex-dividend date in order for
the dividend to be reinvested.
You can also always request individual positions in your
account to be enrolled for DRIP at no charge.
You can enroll in our dividend reinvestment program online
from your settings in Credence Global Bank Invest Live. Select the gear icon
next to Home and choose All Settings from the dropdown menu.
You’ll find the toggle for dividend reinvestment at the
bottom of the screen. You can enroll or unenroll once per
day. If you want to add or remove individual stocks, you can
call us at 1-630-413-3309.
Yes, you can transfer stocks held in a dividend reinvestment
program from another firm to your Credence Global Bank Invest account. Keep
in mind, transferring the stock would terminate the other
firm’s DRIP and partial shares would be liquidated during
the transfer process and moved as cash.
Contact us by phone at 1-630-413-3309, via our Live Chat, or
by email at support@invest.credenceinc.org
in order to enroll those holdings in the Credence Global Bank Invest DRIP.
Yes, you will be able to see dividend reinvestment (DRIP)
transactions in real time on your Activity
page. You can also view DRIP purchases on the Maxit
Tax Manager page. In addition to viewing your
DRIP activity online, you will see your transactions in your
monthly or quarterly account statements.
