Can I enrol my stocks in a dividend reinvestment (DRIP) or dividend purchase plan (DPP)?
Yes, Scotia iTRADE offers Dividend Reinvestment (DRIP) and/or Dividend Purchase Plans (DPP).
The DRIP/DPP program reinvests in whole shares, so subsequent dividends paidout need to be sufficient to buy at least one whole share. (i.e. the cash dividend you receive from your shares must be greater than the price of one share to participate). To be eligible for the plan, you must enrol up to two weeks before the dividend distribution date.