I just received 29.14$ this evening from Yellow Pages Income Fund (YLO.UN). On Monday, the dividend should DRIP and provide me at least 4 new units! Thanks Yellow Pages Income Fund (YLO.UN). The dividend just keep adding up!
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I don't have any stocks yet but how do you set up DRIPs? Do you have to tell your brokerage or fill out an application with Yellow Pages or is it all automatic from the beginning?
First, you open a broker account. Make an investment. Once the investment is made, you call your broker to register for a DRIP. After what, the dividend you earn will automatily be re-invested and you'll be able to earn new stocks or units, free of charge. Myself, I earn an average of 4 units per months from Yellow Pages Income Fund (YLO.UN) using this system.
If you make other investment, all of them will be register to the DRIP automaticly.
If you own a Canadian non registered account, a TFSA, a RSP, you need to ask your broker to set-up the DRIP for each account. After what, write down the name of the representative and the time and date you done the operation. Could help you in case a mistake is done. Always write down the name of the person you spoke to and what that person did in a notebook. Suggestion.
Sunny i was thinking of the bell stock but now that u have mentioned the cut of the dividend because it will be a corporation, i am not so sure and what about yellow pages, it pays so little as it is, how can it possibly cut it. love love your writings.
That's so nice of you Canuck. Bell Aliant is still a good company to invest in. But the dividend cut is going to hurt dividend investor a little, that's never fun. But still a good dividend at 1.90$ if you want my point of view. You can wait until the corporation change to invest, maybe the stock will be cheaper at a point, but I really don't know. As for YLO.UN, I read that the dividend could get cut in an article of Gordon Pape but that was quite sometimes ago and from what I remember, there was going to be a dividend cut for YLO.UN.
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