Summary of 12 DSPP from the DOW
12 DOW Stocks w/ DSPP - Summary Table
*Initial Purchase Not Available Online
**Shareowners owning less than 200 Shares are NOT charged Transaction Fees.
Well, our first attempt at creating a summary table worked out pretty well and is a good beginning point.
We’ll explain the columns and how to make the best use of the table.
CO.
The first column, Co. contains the company’s symbol. I’ll be creating another table in a different form which contains the full name but, due to width limitations of blogger.com this is what we went with for now.
WHERE TO BUY
The second colum, Where to Buy, is what really sets the Dollar Wise Decisions sites apart from all others. I simply have never come across a site that provides links of where to go to make your Direct Purchase. The best currently available seems to be each individual transfer agent only listing the stocks they offer.
But, look how many different transfer agents/websites are used for just the 12 companies we studied in the DOW which offer DPPs
1. Bank of New York
2. Mellon Investor
3. EquiServe
4. ComputerShare
5. Wells Fargo
6. Proctor & Gamble
7. Walt Disney
Seven different places to go in order to participate in the Direct Purchase plans of only 12 companies! Granted, there are somewhere around 9,000 different stocks available for purchase just in the US but, the ultimate goal of this site will be to work through all the stocks in the S&P 500 which offer DPPs & DRIPs.
So, this project should keep me busy and my education continuing for quite some time.
We do need to make note of the Transfer Agents/websites listed because each one is unique and a different path will need to be taken for each one in order to get to the actual purchase page. Some pages just can’t be linked so, I’ve decided to link to a page as close as possible to the final purchase page. In the case of the EquiServe site, I link to a page from which all of their stocks are accessible thereby allowing the user to not only seek out the particular stock in question but perhaps find something else they like as well.
Here are the paths we need to take for each site;
Bank of New York>Initial Purchase>Go To Step One and Enroll Now> FIND YOUR STOCK!
Mellon Investor>(drop down menu)Find direct stock purchase plans > FIND YOUR STOCK!
EquiServe > enter a symbol then FIND YOUR STOCK!
ComputerShare > enter a symbol then FIND YOUR STOCK!
Wells Fargo>Purchase Shares from a Direct Purchase Plan>use drop down menu to FIND YOUR STOCK!
Specialty – These companies act as their own transfer agent
Proctor & Gamble>There isn’t an online enrollment option that I’ve found for P&G but, the link goes to a page which provides the New Account Application Form, Automatic Investment Enrollment Form (for direct debit as well as the Prospectus and a Shareholder Investment Program Summary.
Walt Disney>There isn’t an online enrollment option that I’ve found for DIS but the link goes to a page which provides a link for a New Accounts form which allows the opportunity to select between a $1,000 initial purchase or $100/month for 10 months as well as the Direct Debit authorization forms. Another, link is for the companies Prospectus.
INITIAL PURCHASE
This column provides the one time initial purchase amount which will get you into the companies DRIP program. If transaction fees are listed for the company (last column under Trans Fees) then that amount will need to be factored into the initial purchase price.
IP/mo OPTION
Eight of the 12 companies listed allow people to join their DRIP program by agreeing to make smaller, monthly contributions until those contributions are equal to the Initial Purchase price required. In the case of Catapillar and Wal-Mart you only need $25/month investments. McDonalds, while listing $50/month, allows you to break that amount up into two separate investments, one being automatically debited on the 15th and the other on the Last day of the month. Again, transaction fees listed in the last column will apply to all these purchases.
SETUP FEES
Seven of the 12 companies listed will charge an initial fee to set up your new account which ranges in price from $5.00 to $20.00.
MIN/MONTH
This column shows the minimum amount that can be invested per month with each company. With the exception of General Electric (GE) which allows amounts as low as $10 and Caterpillar (CAT) which allows $25 investments, all the rest of the companies have their minimum set at $50.
TRANS FEES
While ExxonMobil and Pfizer do not charge any additional fees, the rest of the companies on this list do. The reason a range is listed for many companies is because there are different fees for different types of transactions with automatic or electronic investments tending to cost the least while the optional cash (or check) purchases invoke the higher transaction fees.
Also note – most, if not all, of the companies that charge a transaction fee also charge a very small fee per share of stock bought. This fee ranges from one cent per share for Merck (MRK) up to $0.15 per share for McDonalds and General Electric. Given the limitations of the table widths at this site I decided to omit that information from the table. Also, most people aren’t going to be investing so much money into a DRIP each month that the additional per share charges aren’t going to amount to much, not with just a few pennies per share extra. The individual write ups I’ve done for each company does include this information.
DRIPS
Drip Investing
DPP
Direct Investing
Investing
Invest
Co. | Where to Buy | Initial | IP/mo | Setup | Min / | Trans | |
AXP | $1,000* | -?- | $6 | $50 | $3 - $6 | ||
CAT | $250** | $25 | $0 | $25 | $0-$2.5 | ||
XOM | $250 | $50 | $0 | $50 | $0 | ||
GE | $250 | na | $7.5 | $10 | $1 -$3.5 | ||
HD | $500 | $50 | $5 | $50 | $2.50 | ||
IBM | $500 | $50 | $5 | $50 | $1 - $5 | ||
MCD | $500 | $50 | $0 | $50 | $1.5 -$6 | ||
MRK | $350 | $50 | $0 | $50 | $2 - $5 | ||
PFE | $500 | na | $0 | $50 | $0 | ||
PG | $250* | na | $5 | $50 | $1 -$2.5 | ||
WMT | $250 | $25 | $20 | $50 | $1 - $5 | ||
DIS | $1000* | $100 | $0 | $50 | $1 - $5 |
*Initial Purchase Not Available Online
**Shareowners owning less than 200 Shares are NOT charged Transaction Fees.
Well, our first attempt at creating a summary table worked out pretty well and is a good beginning point.
We’ll explain the columns and how to make the best use of the table.
CO.
The first column, Co. contains the company’s symbol. I’ll be creating another table in a different form which contains the full name but, due to width limitations of blogger.com this is what we went with for now.
WHERE TO BUY
The second colum, Where to Buy, is what really sets the Dollar Wise Decisions sites apart from all others. I simply have never come across a site that provides links of where to go to make your Direct Purchase. The best currently available seems to be each individual transfer agent only listing the stocks they offer.
But, look how many different transfer agents/websites are used for just the 12 companies we studied in the DOW which offer DPPs
1. Bank of New York
2. Mellon Investor
3. EquiServe
4. ComputerShare
5. Wells Fargo
6. Proctor & Gamble
7. Walt Disney
Seven different places to go in order to participate in the Direct Purchase plans of only 12 companies! Granted, there are somewhere around 9,000 different stocks available for purchase just in the US but, the ultimate goal of this site will be to work through all the stocks in the S&P 500 which offer DPPs & DRIPs.
So, this project should keep me busy and my education continuing for quite some time.
We do need to make note of the Transfer Agents/websites listed because each one is unique and a different path will need to be taken for each one in order to get to the actual purchase page. Some pages just can’t be linked so, I’ve decided to link to a page as close as possible to the final purchase page. In the case of the EquiServe site, I link to a page from which all of their stocks are accessible thereby allowing the user to not only seek out the particular stock in question but perhaps find something else they like as well.
Here are the paths we need to take for each site;
Bank of New York>Initial Purchase>Go To Step One and Enroll Now> FIND YOUR STOCK!
Mellon Investor>(drop down menu)Find direct stock purchase plans > FIND YOUR STOCK!
EquiServe > enter a symbol then FIND YOUR STOCK!
ComputerShare > enter a symbol then FIND YOUR STOCK!
Wells Fargo>Purchase Shares from a Direct Purchase Plan>use drop down menu to FIND YOUR STOCK!
Specialty – These companies act as their own transfer agent
Proctor & Gamble>There isn’t an online enrollment option that I’ve found for P&G but, the link goes to a page which provides the New Account Application Form, Automatic Investment Enrollment Form (for direct debit as well as the Prospectus and a Shareholder Investment Program Summary.
Walt Disney>There isn’t an online enrollment option that I’ve found for DIS but the link goes to a page which provides a link for a New Accounts form which allows the opportunity to select between a $1,000 initial purchase or $100/month for 10 months as well as the Direct Debit authorization forms. Another, link is for the companies Prospectus.
INITIAL PURCHASE
This column provides the one time initial purchase amount which will get you into the companies DRIP program. If transaction fees are listed for the company (last column under Trans Fees) then that amount will need to be factored into the initial purchase price.
IP/mo OPTION
Eight of the 12 companies listed allow people to join their DRIP program by agreeing to make smaller, monthly contributions until those contributions are equal to the Initial Purchase price required. In the case of Catapillar and Wal-Mart you only need $25/month investments. McDonalds, while listing $50/month, allows you to break that amount up into two separate investments, one being automatically debited on the 15th and the other on the Last day of the month. Again, transaction fees listed in the last column will apply to all these purchases.
SETUP FEES
Seven of the 12 companies listed will charge an initial fee to set up your new account which ranges in price from $5.00 to $20.00.
MIN/MONTH
This column shows the minimum amount that can be invested per month with each company. With the exception of General Electric (GE) which allows amounts as low as $10 and Caterpillar (CAT) which allows $25 investments, all the rest of the companies have their minimum set at $50.
TRANS FEES
While ExxonMobil and Pfizer do not charge any additional fees, the rest of the companies on this list do. The reason a range is listed for many companies is because there are different fees for different types of transactions with automatic or electronic investments tending to cost the least while the optional cash (or check) purchases invoke the higher transaction fees.
Also note – most, if not all, of the companies that charge a transaction fee also charge a very small fee per share of stock bought. This fee ranges from one cent per share for Merck (MRK) up to $0.15 per share for McDonalds and General Electric. Given the limitations of the table widths at this site I decided to omit that information from the table. Also, most people aren’t going to be investing so much money into a DRIP each month that the additional per share charges aren’t going to amount to much, not with just a few pennies per share extra. The individual write ups I’ve done for each company does include this information.
DRIPS
Drip Investing
DPP
Direct Investing
Investing
Invest
posted by Scott at
1:25 AM
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