ST. LOUIS--(BUSINESS WIRE)--Scottrade has launched a unique dividend reinvestment service to clients seeking more choices in their strategies for dividend-paying equities.
The online investing services company launched its Flexible Reinvestment Program™ to clients, which is far different from typical brokerage dividend reinvestment programs that only allow for dividends to be reinvested into the same security. With Scottrade’s flexible dividend reinvestment program, dividends flow into a program balance, or pool. Clients can tap that pool to buy up to five eligible* securities at a time. Most stock and exchange-traded funds (ETFs) are eligible. All program purchases are commission free.
“Clients looking for maximum choice and flexibility in their dividend investing decisions will find our Flexible Reinvestment Program™ an important service that adds a lot of value to their Scottrade relationship,” said Justin Gioia, Scottrade’s vice president of Investor Experience. “With their dividends accumulating into a single pool, clients will have buying power to reinvest in most stocks or exchange-traded funds of their choosing. We’re taking the typical dividend reinvestment one step further. No other brokerage has anything like this.”
Clients can change their selections at any time. Automatic purchases for the selected securities can be set up monthly or quarterly.
“At Scottrade, we’re always looking to provide clients with an engaging experience, and Flexible Reinvestment Program™ is just one of the services we feel is an innovative solution that provides exceptional value,” Gioia said. “Early feedback from our clients makes us enthusiastic about the program’s adoption.”
For more information about the flexible dividend reinvestment program, visit www.scottrade.com/FRIP.
About Scottrade, Inc.
Investors who enjoy online stock trading will find value and personalized customer service at online investing services firm Scottrade, Inc. Founded in 1980, Scottrade enables clients to learn about online trading tools, stock market research and how to buy stocks online, many at just $7 per trade. With more than 500 nationwide branch offices, Scottrade has the largest branch network among online brokerage firms. To learn more about one of FORTUNE® magazine’s “100 Best Companies to Work For,” visit about.scottrade.com or www.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr. Member FINRA/SIPC.
Scottrade® and the Scottrade® logo are the registered trademarks of Scottrade, Inc.
*Marginable equities are eligible with the program balance, as defined in the Flexible Reinvestment Program™ Terms and Conditions.
Investors should consider the investment objectives, charges, expenses and unique risk profile of an exchange-traded fund (ETF) carefully before investing. A prospectus contains this and other information about the ETF and should be obtained from the issuer. The prospectus should be read carefully before investing.
