I just got notice about this on email and have not had much luck on getting details.
It seems that if you elect this they take your net dividend and buy shares on your behalf and and payout the balance. But I all I could find was the t&c and not the mechanics of the scheme.
Does anyone have more info on this or a link?
My initial thoughts are to rather take the dividend and then decide whether to reinvest or not especially since I am using Easy Equities so cost saving on brokers fees isn't applicable.
Don't go for the DRIP - there are charges :-
11. Charges
We will be entitled to the fees and charges shown in this booklet
and we may periodically review the amount and structure of these
charges. We will give you 30 days written notice before any variation
to the fees and charges applicable to the Plan takes effect. Charges,
taxes and other duties payable will be deducted from the transaction.
If the amount of money to be invested less these fees and charges
is insufficient to purchase one Share, no costs will be charged to
you and the cash dividend will be treated as set out in the Special
Information.
