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Dividend Reinvestment and Direct Purchase Plans FAQs


1. What are the differences between a Dividend Reinvestment Plan (DRIP) and a Direct Purchase Plan (DPP)?
A Dividend Reinvestment Plan is an investment plan available to existing, registered shareowners of a particular company. Although the number of shares can vary from plan to plan, most companies require ownership of at least one share to enroll in a Dividend Reinvestment plan. A Direct Purchase Plan has an "open enrollment" feature, which allows investors to purchase their initial share(s) of stock from the issuer rather than purchasing through a brokerage firm. Once enrolled in either plan, shareowners generally have the option to increase their ownership of stock through the purchase of shares with dividends and/or cash contributions. Some plans also offer shareowners automatic debits from their bank accounts to make cash contributions. It is important that you read the prospectus carefully before deciding to purchase or deciding which options are right for you. Back to Top
2. How do I enroll in a Dividend Reinvestment Plan or a Direct Purchase Plan?
If the company you are interested in offers account access through www.shareowneronline.com, you may be able to view the plan material, make your initial investment, sign up for reinvestment or change reinvestment options online. A list of plans administered by Shareowner Services is available online at www.shareowneronline.com under Invest in a Plan. Some of the brochures/prospectuses and enrollment forms are also online. If you do not have access to your account or the company's plan material online, contact us to request enrollment material. Back to Top
3. How can I sell shares held in a plan?
Options on how to sell your shares vary by the company's stock you own. Refer to your statement or contact a customer service representative to determine which options are available. You may be able to sign up through www.shareowneronline.com to request a sale. If your account is set up for phone transactions, a sale may also be requested through the automated phone system or through a customer service representative. Please remember that any requests sent in writing require that all registered owners sign the sale request. Back to Top
4. Can I deposit my certificate with you?
Options for how to deposit your certificate vary by company. Refer to the share transaction request on your statement to determine which options are available to you. Wells Fargo Shareowner Services suggests you send your certificate by traceable mail and insured for at least 2% of its market value. Back to Top
5. How can I purchase more shares?
Options for how to purchase more shares vary by the company. Please refer to your plan prospectus for the terms of your investment plan. If the company offers account access through www.shareowneronline.com, you may be able to view the plan's prospectus online. Back to Top
6. Am I able to withdraw a certificate at any time?
Options for how to withdraw your shares vary by company. Please contact a customer service representative to determine which options are available to you. Remember that any requests sent to withdraw shares require that all registered owners sign the transaction request form. Back to Top
7. Can I close my account?
Options for how to close your account are located on your statement's share transaction request. Please remember requests to terminate an account may take longer than a partial sale due to dividend purchases. If the company offers account access through www.shareowneronline.com, you may be to download a form to print and send to Shareowner Services. If your company does not offer account access through www.shareowneronline.com, please contact us to determine how to terminate your account. Back to Top
8. Does my company have a reinvestment plan?
If the company you are interested in offers account access through www.shareowneronline.com, you may be able to view the plan material, sign up for reinvestment or change reinvestment options online. A list of plans administered by Shareowner Services is available online at www.shareowneronline.com under Invest in a Plan. Some of the brochure/prospectuses and enrollment forms are also online. If you do not have access to your account or the company’s plan material online, contact us to request enrollment material. Back to Top
9. How can I get a duplicate statement?
If your company offers account access through www.shareowneronline.com, you may be able to view and print a history of your account at the site. Otherwise, please contact us to determine how to obtain duplicate statements and if there is a cost to do so. Back to Top
10. When do I need to submit money to make a purchase in the plan?
The purchase dates vary by company. To purchase stock through a Dividend Reinvestment plan, please refer to your plan prospectus or to your statement. If the company you invest in offers account access through www.shareowneronline.com, you may be able to view the terms and conditions of the plan by selecting Invest in a Plan. If you are unable to locate the prospectus, please contact us to determine how to purchase additional shares. Back to Top