NBDB - DRIP availability

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Jan 16th, 2021 12:07 am

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Sep 12th, 2020 6:39 pm

32berries [OP]: Member; Jan 21, 2012; 262 posts; 484 upvotes; VANCOUVER

Sep 12th, 2020 6:39 pm

NBDB - DRIP availability

Hi everyone,

Does anyone know if National Bank Direct Brokerage (NBDB) offers dividend re-investment plan (DRIP) on any securities (mainly interested in iShares ETFs but also stocks)?

I looked over their website and cannot find any reference to this.

Sorry, I also looked over the forum and didn't see any general thread for NBDB.

Thanks!

7 replies

Sep 13th, 2020 2:48 pm

Corfius: Jr. Member; Nov 12, 2014; 126 posts; 103 upvotes; Levis, QC

Sep 13th, 2020 2:48 pm

Yes they do DRIP. You have to call an agent to set it up for you. I DRIP some stocks and 2 Vanguards ETF so I'm pretty sure you will be fine with iShares.

+1

Sep 13th, 2020 4:45 pm

reversi: Sr. Member; Dec 26, 2019; 597 posts; 893 upvotes

Sep 13th, 2020 4:45 pm

Corfius wrote: ↑ Yes they do DRIP. You have to call an agent to set it up for you. I DRIP some stocks and 2 Vanguards ETF so I'm pretty sure you will be fine with iShares.

Do you know if they honour DRIP discounts?

+1

Sep 14th, 2020 7:27 am

Corfius: Jr. Member; Nov 12, 2014; 126 posts; 103 upvotes; Levis, QC

Sep 14th, 2020 7:27 am

reversi wrote: ↑ Do you know if they honour DRIP discounts?

They do on the stocks I drip (AQN for example).

+1

Sep 15th, 2020 12:11 am

32berries [OP]: Member; Jan 21, 2012; 262 posts; 484 upvotes; VANCOUVER

Sep 15th, 2020 12:11 am

Corfius wrote: ↑ Yes they do DRIP. You have to call an agent to set it up for you. I DRIP some stocks and 2 Vanguards ETF so I'm pretty sure you will be fine with iShares.

Thank you very much! I sent them a secure message to get it applied to my VEQT units in my TFSA and they responded very quickly.

I feel NBDB is quite underrated all things considered.

+1

Jan 15th, 2021 3:43 pm

32berries [OP]: Member; Jan 21, 2012; 262 posts; 484 upvotes; VANCOUVER

Jan 15th, 2021 3:43 pm

Corfius wrote: ↑ Yes they do DRIP. You have to call an agent to set it up for you. I DRIP some stocks and 2 Vanguards ETF so I'm pretty sure you will be fine with iShares.

Quick question if you don't mind: I had my first ETF distribution DRIP'd, and I see the dividend in my account history and then it shows as re-invested, but I don't see any increase in my number of units held. I also don't see any cash for the residual amount of the distribution that couldn't be DRIP'd. It's only been 5 days - do you know if this takes a while to show up? It's not a huge amount of money, about $1K, but I want to make sure it didn't magically disappear into nothingness.

Jan 15th, 2021 4:43 pm

will888: Deal Expert; Dec 12, 2009; 23667 posts; 12880 upvotes; Toronto

Jan 15th, 2021 4:43 pm

lc39nav wrote: ↑ Quick question if you don't mind: I had my first ETF distribution DRIP'd, and I see the dividend in my account history and then it shows as re-invested, but I don't see any increase in my number of units held. I also don't see any cash for the residual amount of the distribution that couldn't be DRIP'd. It's only been 5 days - do you know if this takes a while to show up? It's not a huge amount of money, about $1K, but I want to make sure it didn't magically disappear into nothingness.

I read online that it can take up to as long as 2 weeks to complete the drip shares. This could be brokerage/equity dependent and how the stakeholders interact. I would not worry that things would fall between the cracks.

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Jan 16th, 2021 12:07 am

32berries [OP]: Member; Jan 21, 2012; 262 posts; 484 upvotes; VANCOUVER

Jan 16th, 2021 12:07 am

will888 wrote: ↑ I read online that it can take up to as long as 2 weeks to complete the drip shares. This could be brokerage/equity dependent and how the stakeholders interact. I would not worry that things would fall between the cracks.

Thank you! That’s reassuring.

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