Bank of America (BAC) DRIP
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DRIP Plan Highlights |
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Enrollment |
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Initial Purchase |
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$1,000 |
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Purchases |
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Minimum
purchase |
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$50 |
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Maximum
purchase |
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$120,000 |
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Fees |
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Account
Setup Fee |
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$10 |
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Automatic
investment Fee |
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$0 |
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Optional
Cash Purchase |
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$0 |
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Reinvestment
Fee |
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$0 |
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$15 |
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Company
Web Site |
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Additional
Plan Information |
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BAC DRIP Details: This Bank of America Dividend Reinvestment Plan is your middle of the road DRIP. While the BOA stock plan allows an initial purchase, it is higher than average. It also has a $10 account setup fee. Depending on your investment style you may want to consider looking at a low cost brokerage with free dividend reinvestment such as Sharebuilder.
Pros:
No dividend reinvestment fees
Cons:
$10 account setup fee, higher than average initial purchase