XTO and APC have good DRIPS, with basically no fees except if you sell. I like to utilize low/no fee DRIPs in order to average price, in stocks which I am trying to pick up near a bottom, sometimes a difficult task.
I got the APC DRIP information through www.netstock.com. I also got started in Cross Timbers Oil (XTO) through a DRIP similar to APC. Some of the big integrated oil companies offer DRIPS too, some with very generous fee structures, and some that charge you for every little thing.
Here's a summary of the APC DRIP plan. You need a minimum of $1,000 to get started, if you don't already own APC stock (25 shares minimum) in your name. You can invest $50 or more at a time, including automatic deduction from your checking account at no charge. Dividends are reinvested at a 5% discount. The only fees are $15 plus $0.12/share for sales only, $25 for rejected automatic withdrawls, and $20 for a prior year statement. All of the buy side fees, commissions, etc. are fully paid by the company.
Hope this answers your questions. |
