I've been reinvesting my AAPL dividend payouts back into more AAPL, and have been doing so manually: wait for the dividend pay date, then figure out how much extra cash I need in my TD Ameritrade account to buy a whole number of stocks, factoring in the TD Ameritrade fee ($6.95), and then making the purchase once the money transfers in from my bank account.
I just learned today that TD Ameritrade offers a DRIP (Dividend ReInvestment Program) that doesn't charge a fee, and can purchase fractional shares.
Does anyone use this? Do you know if it works with AAPL stock dividends and purchases (I'll do more research, myself, but wanted to check here, as well)?
Any downside/caveats?
It says they don't intend to charge for the service/reinvestment, but that they could change that, though it would never be more than the regular $6.95 fee. I'm assuming they've had the program for some time now, and never charged a fee. I was simply unaware of it.
Submitted August 06, 2019 at 05:32PM by douglas_in_philly https://ift.tt/33gb1TL
