Canadian Dividend Reinvestment Plans (DRIPs)

Globe and Mail column on buying DRIPs through online brokers

2011-10-30T11:39:00.000-04:00

Another article on Canadian dividend reinvestment plans (DRIPs) appeared in this weekend in the Globe and Mail. As with other articles on DRIPs, columnist Rob Carrick outlined how one can use DRIPs to build a significant portfolio of stocks and how this is a “get rich slowly” kind of method. This method he calls the classic DRIP.

As a twist though Carrick focused on how you can also use online brokers to start your dividend reinvestment plan. With the help of Robert Gibb, who is probably better known as OperaBob of the The DRiP Investing Resource Center message boards, Carrick highlights how to use the online brokerage houses associated with Canadian banks and those that are standalones.

The piece also lays out how the various online brokers handle their DRIP transactions in a table. While all except for one do not charge for using the DRIP feature, the clear winner in terms of number of available stocks to choose from is TD Waterhouse.

The full article and chart can be found at Building wealth, a DRIP at a time page.

Happy DRIPping,
Ken

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List of Canadian DRIPs and SPPs Updated

2011-10-15T12:32:00.001-04:00

Here is the latest round of updates to my Canadian Dividend Reinvestment Plans (DRIPs) list. I have updated the following stocks based on your feedback. Please keep the updates coming!

1. CIBC (CM-T) – discount lowered to 2%

2. Enerplus Corporation – removed SPP

3. Precious Metals and Mining Trust (MMP.UN-T) – removed discount

4. TransCanada Corporation (TRP-T) – removed discount

As always, if you see any discrepancies please post a comment.

Happy DRIPping,

Ken

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Support This Site Through ING

2011-09-07T17:10:00.001-04:00

I have been meaning to thank everyone who has been visiting this site over the past few years. Your support has been phenomenal!

I also wanted to say that as a member of ING Direct Canada I also use their investment savings accounts for my both my personal savings and my TFSAs. As some of you may know, ING has a referral program. When new customers open an ING DIRECT Canada account with $100 or more they get a $25 welcome bonus gift. If they input the Orange Key of an existing member then that person also gets $25.

If anyone is thinking of signing up for an ING account then please consider referencing my Orange Key (14865885S1). You can also click on the animation below which will allow you to copy my Orange Key and browse to ING Direct Canada.

Thanks for reading,
Ken

List of Canadian DRIPs and SPPs Updated

2011-09-07T16:42:00.000-04:00

First off I want to thank everyone who has written to me asking when the site would be updated. I realize that there has been a long stretch since my last major update. And as you can see below, there have been many changes regarding Canadian DRIPs!

As well, thanks to everyone for their comments to let me know of changes to the company plans on my list. I used those as my starting point and then checked every plan for accuracy. Also, I have verified every link to the company dividend reinvestment plan details and Globe Investor stocker ticker.

As always, if you see any discrepancies please post a comment. The information you provide is always appreciated.

Happing DRIPping,
Ken

Added:
1. Brookfield Office Properties Canada (BOX.UN-T)
2. Churchill Corporation (CUQ-T)
3. Dundee International REIT (DI.UN-T)
4. Eagle Energy Trust (EGL.UN-T)
5. Energy Income Fund (ENI.UN-T)
6. Gibson Energy Inc. (GEI-T)
7. GMIncome & Growth Fund (GMF.UN-T)
8. Horizon Alpha Pro ETFs
9. Homburg Canada REIT (HCR.UN-T)
10. Husky Energy (HSE-T)
11. INDEXPLUS Dividend Fund (IDF.UN-T)
12. Liquor Stores N.A. Ltd. (LIQ-T)
13. MOSAID Technologies (MSD-T)
14. NorthWest Healthcare Properties REIT (NWH.UN-T)
15. PATHFINDER Convertible Debenture Fund (PCD.UN-T)
16. REIT INDEXPLUS Income Fund (IDR.UN-T)
17. Retrocom Mid-Market REIT (RMM.UN-T)
18. Rogers Communications Inc.(RCI.B)
19. Senior Gold Producers Income Corp (GPC-T)
20. TransGlobe REIT (TGA.UN-T)
21. Troy Resources NL (TRY-T)
22. Valener Inc. (VNR-T)
23. Yellow Media Inc.(YLO-T)

Deleted:
1. Arctic Glacier Income Fund (AG.UN-T)
2. Caldwell Partners International Inc. (CWL.A-T)
3. Capital Power Income L.P. (CPA.UN-T)
4. Citadel Diversified Investment Trust (CTD.UN-T)
5. CML HealthCare Income Fund (CLC.UN-T)
6. Energy Plus Income Trust (EPF.UN-T)
7. European Premium Dividend Fund (EPD.UN-T)
8. Financial Preferred Securities Corporation (FPR.PR.A-T)
9. InnVest REIT (INN.UN-T) – suspended August 12, 2011
10. Loblaw Companies Limited (L-T)
11. NuVista Energy Ltd.(NVA-T)
12. Oil Sands Sector Fund (OSF.UN-T)
13. Pantera Drilling Income Trust (RIG.UN-T)
14. Paramount Energy Trust (PMY.UN-T)
15. Peyto Energy Trust (PEY.UN-T)
16. Sustainable Production Energy Trust (SPU.UN-T)
17. Western Financial Group (WES-T)
18. Westshore Terminals Income Fund (WTE.UN-T)

Updated:
1. AltaGas Income Trust changed to AltaGas Ltd. (ALA-T)
2. Arc Energy Trust changed to ARC Resources Ltd. (ARX-T)
3. Bank of Montreal (BMO-T) – removed discount
4. Canexus Income Fund changed to Canexus Corporation (CUS-T)
5. Charter REIT changed to Partners REIT (PAR.UN-T)
6. Daylight Resources Trust changed to Daylight Energy Ltd. (DAY-T)
7. Enbridge Income Fund changed to Enbridge Income Fund Holdings Inc.(ENF-T)
8. Enerplus Resources Fund changed to Enerplus Corporation (ERF-T)
9. Enervest Diversified Income (EIT.UN-T) - removed minimum
10. Firm Capital Mortgage Investment Trust changed to Firm Capital Mortgage Investment (FC-T)
11. Fort Chicago Energy Partners L.P. changed to Versen Inc. (VSN-T)
12. Freehold Royalty Trust changed to Freehold Royalties Ltd. (FRU-T)
13. Just Energy Income Fund changed to Just Energy Group (JE-T)
14. Keyera Facilities Income Fund changed to Keyera Corp. (KEY-T)
15. Macquarie Power & Infrastructure Income Fund changed to Capstone Infrastructure Corporation (CSE-T) and Share Purchase Plan (SPP) terminated
16. NAL Oil & Gas Trust changed to NAL Energy Corp. (NAE-T)
17. Northland Power Income Fund changed to Northland Power Inc. (NPI-T)
18. Parkland Income Fund changed to Parkland Fuel Corporation (PKI-T)
19. Pengrowth Energy Trust changed to Pengrowth Energy Corporation (PGF-T)
20. Penn West Energy Trust changed to Penn West Exploration (PWT-T)
21. Phoenix Technology Income Fund changed to Phoenix Technology Services (PHX-T)
22. Provident Energy Trust changed to Provident Energy Ltd. (PVE-T)
23. Telus (T-T) – removed discount
24. Vermilion Energy Trust changed to Vermilion Energy Inc.(VET-T)
25. Zargon Energy Trust changed to Zargon Oil & Gas Ltd.(ZAR-T)

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Canadian DRIP & SPP List updates

2010-07-20T16:07:00.000-04:00

I have added the following new plan:

NuVista Energy Ltd. (NVA-T)
NuVista Energy Ltd.-Announces Dividend Reinvestment Plan

I have updated the following plan:

TransAlta Corporation (TA-T) - 3% discount added
TransAlta declares dividend

As always, if you see any discrepancies please post a comment.

Happy DRIPping,
Ken

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Reason this site has been down

2010-07-19T13:32:00.000-04:00

Dear readers,

I am sure some of you came to my site over the past week only to be greeted with a message that my blog had been removed.

Well, last Saturday Google decided to mark this blog as spam. When they do that they take down the site until I can prove I am the owner. Once I did then they had to do a manual review of my blog to see if they could re-instate it. I eventually escalated the problem up the chain of command and the site was re-activated this afternoon.

I am not sure how this occurred in the first place. My site has been up since 2005 and in those past five years nothing like this has ever happened. I am sorry if this outage has inconvenienced anyone.

Thank you all for your patience and I hope that you will continue to visit my site in the future.

Sincerely,
Ken

Globe and Mail column on DRIPs

2010-07-05T15:11:00.000-04:00

Globe and Mail columnist John Heinzl is at it again. On Saturday July 3, 2010 he did an in-depth report on dividend reinvestment plans and included a feature on Robert Gibb, who is probably better known as OperaBob of the
The DRiP Investing Resource Center message boards.

Gibb highlights some of his holdings in the article, gives some excellent reasons on why one should hold DRIPs and then talks about how one can start becoming involved in DRIPs.

I also really like this quote from the article: "It’s a get-rich-eventually scheme." How true!

The full article can be found at DRIPping your way to wealth page.

Happy DRIPping,
Ken

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John Heinzl's excellent article on income trusts

2010-06-21T10:41:00.000-04:00

John Heinzl contributed an interesting article regarding income trusts to the June 18, 2010 edition of The Globe and Mail. In the column, he basically gives a state of the union update on income trusts and their conversions to corporations.

He describes the conversion process in the following statement: "As an income trust, a business can distribute its earnings to shareholders and thereby pay no tax. Concerned by what it described as tax leakage, the federal government announced that trusts would have to start paying taxes in 2011 (real estate investment trusts meeting certain conditions were excluded)."

He goes on to state: "Income trusts as we know them will largely be gone by the time a new trust tax kicks in next year. In their place will be a new category of stock that in some cases will be more attractive to some investors than trusts were."

"I’m calling it the high-yielding corporation," said Harry Levant, the independent analyst behind the IncomeResearch.ca website. “It’s a new beast that has come out of the income trust process and demand for income."

"At their peak, there were about 265 income trusts listed on the Toronto Stock Exchange. Takeovers and privatizations will reduce the total number of high-yield corporations to around 90, in Mr. Levant’s estimation."

The full article can be found at: A new investment beast: the high-yield corporation page.

Happy DRIPping,
Ken

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Column on Canadian dividend growers

2010-06-18T15:04:00.000-04:00

In the June 10, 2010 edition of The Globe and Mail, columnist John Heinzl compiled another list of dividend growth stocks in Canada. The Globe has really gotten on the dividend bandwagon over the past few years and they tend to run these dividend screener articles several times a year.

For this one, they were looking for companies with "a market capitalization of at least $1-billion." They also wanted at least a 2.5% dividend yield and a "five-year annualized dividend growth rate of at least 5 per cent." The final criterion was a dividend payout ratio of less than 80%.

Of the companies that made the list, many have dividend reinvestment plans: Shaw Communications Inc. (SJR.B-T), Telus Corporation (T-T), AGF Management Limited (AGF.B-T), Just Energy Income Fund (JE.UN-T), Fortis Inc. (FTS-T), Royal Bank of Canada (RY-T), Toronto-Dominion Bank (TD-T),
Sun Life Financial (SLF-T), National Bank of Canada (NA-T), Bank of Nova Scotia (BNS-T), TransCanada Corporation (TRP-T), Enbridge Inc. (ENB-T), Bank of Montreal (BMO-T).

The full article entitled Canada's best dividend growth stocks can be found at the Globe's All about dividend stocks page.

Happing DRIPping,
Ken

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Canadian DRIP & SPP List update

2010-06-18T14:32:00.000-04:00

I have deleted the following plan:

Premium Brands Holdings Corporation (PBH-T)
Premium Brands Holdings Corporation Announces December 2009 Dividend and Suspension of DRIP

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Canadian DRIP & SPP List updates

2010-06-02T15:15:00.001-04:00

There have been three changes since my most recent list update.

I have added the following new plans:
Manitoba Telecom Services (MBT-T)
Manitoba Telecom Services Dividend Reinvestment Plan approved by TSX

Superior Plus Corp. (SPB-T)
Superior Plus Announces May 2010 Cash Dividend, Reestablishment of Dividend Reinvestment Program

Timbercreek Mortgage Investment Corporation (TMC-T)
Timbercreek Mortgage Investment Corporation Announces a Dividend Reinvestment Plan for TSX listed Class A Shares

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Canadian DRIP & SPP List update

2010-05-05T13:43:00.000-04:00

I have added the following new plan:

Cenovus Energy Inc. (CVE-T)
Cenovus Energy achieves strong Q1 cash flow

As well, two income trusts with dividend reinvestment plans have also made recent announcements that they will convert to corporations. I have included links to their announcements below:

AltaGas Income Trust (ALA.UN-T)
AltaGas Reports First Quarter Results and Announces Plans for Corporate Conversion

Bell Aliant Regional Communications Income Fund (BA.UN-T)
Bell Aliant announces plan for conversion to a corporation

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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An introduction to Tom Connolly

2010-04-22T11:25:00.000-04:00

I entitled this piece an introduction to Tom Connolly but for many of you he needs know introduction at all. Tom can easily be considered Canada's dividend prophet.

I first heard of Tom back in 2004 when I started to get serious about dividend stocks and DRIPs. I was intrigued by what he had to say about the investment style. I read through his entire website and gathered many ideas about the soundness of the strategy.

I love reading about Tom's insight into the current markets. He has published a newsletter about dividend investing called The Connolly Report since 1981. Although it has been closed to new subscribers for many years, non-subscribers can purchase copies from Tom when he has extras available. His new website - DividendGrowth.ca - is open only to subscribers but I highly recommend dividend investors still visit it on a regular basis. The plethora of free information is an excellent read as there are nuggets of information on dividend-paying companies and wisdom on dividend investing.

He has also made available two documents containing his thoughts on the current markets and dividend investing in general.

Tom is not a big fan of DRIPs though. You can read his thoughts on them here.

Finally, Tom has been generous enough to provide paper copies of his newsletters to select libraries across Canada. You can find the locations here. If you are close to one, I highly recommend that you make the effort to read them. Also on this page you can find out a little more about his background, as well as some inspirational stories about how holding dividend-paying stocks can really pay off over time.

Happing DRIPping,
Ken

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2010 Dividend Index Changes

2010-04-19T11:14:00.005-04:00

There have been many changes over the past year to TSX indexes that track Canadian dividend paying companies.

First, the people at Mergent's have decided to remove their list of dividend achievers from their public website. This was an invaluable list to people wishing to buy companies with an excellent track record of dividend payments. (Note: If I am wrong in saying Mergent's has removed their list, could readers please reply with the link to the new page. Thanks!)

Second, in December 2009 the other major dividend index - S&P/TSX Canadian Dividend Aristocrats - announced that it was removing 15 members (including most of the big banks) and that it was only gaining one new listing: Cogeco Inc. (CGO-T and CCA-T).

The corporations removed were: Astral Media Inc. (ACM.A-T), Bank of Montreal (BMO-T), Boardwalk REIT (BEI.UN-T), Calloway REIT (CWT.UN-T), CIBC (CM-T), First Capital Realty Inc. (FCR-T), Manulife Financial Corp. (MFC-T), National Bank of Canada (NA-T), Northern Property REIT (NPR.UN-T), Primaris Retail REIT (PMZ.UN-T), Reitman's Ltd. (RET.A-T), Royal Bank of Canada (RY-T), Sherritt International Corp. (S-T), Sun Life Financial (SLF-T) and Yellow Pages Income Fund (YLO.UN-T).

To stay on Standard & Poor's list, constituents must "have followed a managed-dividends policy of consistently increasing dividends every year for at least five years." The current list has 56 members including The Bank of Nova Scotia (BNS-T), Canadian National Railways (CNR-T), Canadian Pacific Railway Ltd (CP-T), Enbridge Inc (ENB-T), Power Financial Corp (PWF-T) and The Toronto-Dominion Bank (TD-T).

You can view the list of current members (after a free site registration) using the link above.

An extensive article entitled Banks are no longer pillars of this select dividend club was written about these changes by John Heinzl of The Globe and Mail on December 14, 2009. I did not include a link to the column on the Globe's site because it is no longer free. However, if you Google the article's title you should be able to find it on other websites.

Third, the Dow Jones Canada Titans 40 Index was changed to the Dow Jones Canada Titans 60 Index. Similar to the S&P's list, the index "measures 60 of the largest and most liquid equity securities trading in Canada. On a monthly basis, the top companies in the index universe by float-adjusted market list." (As above, the list is only available after you register on their site.)

Their index contains many of the same members as the S&P. However, they don't seem to have placed a five-year performance period on those listed as Tim Hortons Inc. (THI-T) is already listed. As well, many smaller resource companies like Silver Wheaton Corp. (SLW-T) and Eldorado Gold Corp. (ELD-T) are also here.

Finally, while most companies listed in these indexes have dividend reinvestment plans, not all do. This is why it is a good idea to compare the list of each index's constituents to the List of Canadian DRIPs and SPPs on this site to see which companies offer a DRIP.

Happing DRIPping,
Ken

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List of Canadian DRIPs and SPPs Updated

2010-04-15T13:07:00.000-04:00

There has been one change since my most recent list update.

I have added the following new plan:
Zargon Energy Trust (ZAR.UN-T)
Zargon Energy Trust Announces Adoption of a Distribution Reinvestment Plan

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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This site in the news

2010-04-13T13:25:00.002-04:00

Since I created this site in 2005, it has grown steadily in popularity. So, I thought I would create a post listing the locations where this blog has been mentioned in the news.

It was a great day when I got my first notice in Canadian MoneySaver magazine from Robert Gibb. I was then mentioned in Derek Foster's second book entitled The Lazy Investor: Start with $50...and no Investment Knowledge that was published in 2007. From there, my blog has been referenced in newspaper articles and magazines. You can find many listed below.

Happing DRIPping,
Ken

Toronto Star
Ellen Roseman, September 19, 2007 - Retiree, 37, did it the easy way

Ellen Roseman, June 22, 2008 - DRIPs a cheap way to invest for long term

Globe & Mail
John Heinzl, July 15, 2009 - DRIPs drop discounted shares in your lap

John Heinzl, February 12, 2010 - Why you should be a DRIP fan

MoneySense Magazine
Rob Gerlsbeck, May 2009 - Breeding wealth: A new combo can help your money multiply faster

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Globe Investor dividend articles website

2010-04-12T13:23:00.001-04:00

The Globe & Mail's Globe Investor website has gotten on the dividend bandwagon in a big way. They have been writing a lot more columns and articles on the value of dividend investing. As such, they have created a web page called All about dividend stocks that aggregates all of their stories about dividend stocks. This website is an excellent tool in keeping up to date on dividend stock trends.

Finally, this site has also been added to my list of finance links at the bottom of this page. I have also verified that each URL is correct. Check them out, there many excellent blogs and websites that deal with dividends and dividend investing.

Happing DRIPping,
Ken

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Canadian DRIP & SPP List updates

2010-04-09T13:42:00.003-04:00

Thanks for your patience during the past few months as I have been trying to get this site updated. Thirteen months is way too long to go between updates and as you can see below, there have been many changes regarding Canadian DRIPs!

The list format has also been changed. I have made each stock ticker symbol a hyperlink so that you can get the latest stock information. Each link will use the new Globe Investor website. As well, all stock ticker symbols on this blog will now follow the Globe Investor’s stock symbol format.

Finally, I have verified each company’s link to their dividend reinvestment plan details and updated many of them.

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

I have added the following plans:
Bank of Montreal Exchange-Traded Funds
Brookfield Properties Corp. (BPO-T)
Canadian Western Bank (CWB-T)
Capital Power Income L.P. (CPA.UN-T) [Was formerly EPCOR Power L.P.]
Citadel Income Fund (CTF.UN-T) [Drip available early 2010]
Crescent Point Energy Corp. (CPG-T)
European Premium Dividend Fund (EPD.UN-T)
Exchange Income Corporation (EIF-T)
Fort Chicago Energy Partners L.P. (FCE.UN-T)
Loblaw Companies Limited (L-T)
Olympia Financial Group Inc. (OLY-X)
Paramount Energy Trust (PMT.UN-T)
Phoenix Technology Income Fund (PHX.UN-T)
Premium Brands Holdings Corporation (PBH-T)
Progress Energy Resources Corp. (PRQ-T)
Student Transportation of America Ltd. (STB-T)
Tim Hortons (THI-T)
Vermilion Energy Trust (VET.UN-T)
Western Financial Group (WES-T)

I have deleted the following plans:
Canadian Oil Sands Trust (COS.UN-T) – DRIP suspended
Citadel Premium Income Fund (CPF.UN-T) – Merged into Citadel Income Fund (CTF.UN-T)
Citadel S-1 Income Trust Fund (SDL.UN-T) – Merged into Citadel Income Fund (CTF.UN-T)
Citadel Stable S-1 Income Fund (CSR.UN-T) – Merged into Citadel Income Fund (CTF.UN-T)
Contrans Income Fund (CSS.UN-T) – DRIP terminated
Deepwell Energy Services Trust (DWL.UN-T) – DRIP terminated
diversiTrust Income Fund (DTF.UN-T) – Merged into Dynamic Strategic Yield Fund
diversiTrust Stable Income Fund (DTS.UN -T) – Merged into Dynamic Strategic Yield Fund
Enerflex Systems Income Fund (EFX.UN-T) – Acquired by Toromont Industries Ltd.
Equal Sector Income Fund (ESF.UN-T) – Merged into INDEXPLUS Income Fund (IDX.UN-T)
Equal Weight Plus Fund (EQW.UN-T) – Merged into Citadel Income Fund (CTF.UN-T)
Income & Equity Index Participation Fund (IEP.UN-T) – Fund terminated
Eveready Income Fund (EIS.UN-T) – Acquired by Clean Harbors Environmental Services, Inc.
First Capital Realty Inc. (FCR-T) – DRIP suspended
First National Financial LP (FN.UN-T) – DRIP terminated
First Premium Income Trust (FPI.UN-T) – Fund terminated
Harvest Energy Trust (HTE.UN-T) – DRIP terminated
Huntingdon REIT (HNT.UN-T) – Dividends suspended
InStorage REIT (IS.UN-T) – Acquired by Storage Mart
Lawrence Income & Growth Fund (LIGF-T) – Acquired by Navina Capital Corp.
Magna International Inc. (MG.A-T) – Dividends suspended
Norbord Inc. (NBD-T) – Dividends suspended
Pembina Pipeline Income Fund (PIF.UN) – DRIP suspended
Pulse Data Inc. (PSD-T) – DRIP suspended
Realex Properties Corp. (RLX-X) – DRIP suspended
Retrocom Mid-Market REIT (RMM.UN-T) – DRIP terminated
Royal Host REIT (RYL.UN-T) – DRIP terminated
Sentry Select China Fund (CHZ.UN-T) – Converted to mutual fund of the same name
Sentry Select Diversified Income Trust (SDT.UN-T) – Converted to mutual fund of the same name
Trilogy Energy Corp. (TET-T) – DRIP terminated
Uranium Focused Energy Fund (UF.UN-T) – Dividends suspended
Series S-1 Income Fund (SRC.UN-T) – Merged into Blue Ribbon Income Fund (RBN.UN-T)

I have updated the following plans:
Brompton Oil & Gas Income Fund (OGF.UN-T) – Formerly Brompton Equal Weight Oil & Gas Income Fund
CIBC (CM-T) – Added 3% discount
Claymore Exchange-Traded Funds – All ETFs now offer a DRIP; The link now points to their general site
ClubLink Enterprises Limited (CLK-T) – Formerly Tri-White Corporation (TWH-T)
Emera Incorporated (EMA-T) – Added 5% discount
Firm Capital Mortgage Investment Trust (FC.UN) – Minimum changed to $250/month from $1,000/month
Intact Financial Corporation (IFC-T) – Formerly ING Canada (IIC-T)
Just Energy Income Fund (JE.UN-T) – Formerly Energy Savings Income Fund (SIF.UN-T); Added 2% discount
HOMEQ Corporation (HEQ-T) – Formerly Home Equity Income Trust (HEQ.UN-T)
Inter Pipeline Fund (IPL.UN-T) – Removed the SPP portion of the plan
Keyera Facilities Income Fund (KEY.UN-T) – Removed the SPP portion of the plan
Manulife Financial Corporation (MFC-T) – Added 3% discount; Manulife also removed all fees associated with its DRIP
Mulvihill Premier Canadian Income Fund (GIP.UN-T) – Formerly Global Plus Income Trust
Mulvihill Top 10 Canadian Financial Trust (TCT.UN-T) – Formerly Top 10 Canadian Financial Trust
NAL Oil & Gas Trust (NAE.UN-T) – Added 5% discount
Royal Bank of Canada (RY-T) – Removed 3% discount
Sun Life Financial (SLF-T) – Added 2% discount
Telus Corporation (T-T) – Added 3% discount

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Canadian DRIP & SPP List updates

2009-03-21T09:11:00.000-04:00

The world of Dividend Reinvestment Plans is constantly changing. These past few weeks have been no different. Since my last update I have made four changes to my list of Canadian DRIPs & SPPs. I have included links to some stories announcing the updates.

I have added the following new plan:
Equitable Group Inc. (TSX:ETC)
Equitable Group Inc. announces Dividend Reinvestment Plan

I have deleted the following two plans:
Advantage Energy Income Fund (TSX:AVN.UN)
Advantage Announces Intention to Convert to a Growth Oriented Corporation and a Strategic Asset Disposition Program to Increase Financial Flexibility

Boyd Group Income Fund (TSX:BYD.UN) - DRIP terminated

I have updated the following plan:
NAL Oil & Gas Trust (TSX:NAE.UN) – DRIP reinstated
NAL Oil & Gas Trust Announces March Distribution and Reinstatement of the DRIP

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

Derek Foster, "The Lazy Investor" and me

2009-03-11T16:05:00.001-04:00

I have received several inquiries lately as to whether I am Derek Foster or if I have some affiliation with him. To set the record straight, I am not him nor do I have any relationship to him.

The reason the confusion has come about is that this blog was mentioned in Foster's second book entitled The Lazy Investor: Start with $50...and no Investment Knowledge published in 2007. It highlighted his venture into Dividend Reinvestment Plans (DRIPs) and how others can get started the same way. As people came to my site they began asking me questions about investing and money matters thinking I was him.

For those who don't know about Foster, he bills himself as Canada's Youngest Retiree. He wrote his highly successful book STOP WORKING: Here's How You Can Using the Strategy of Canada's Youngest Retiree in 2005. It was a national bestseller and it also spawned a third book called Money for Nothing: And Your Stocks for FREE in 2008.

For anyone looking to talk to Derek, you can contact him here.

If you would like to order his books, they are available on his site or at Chapters.

Happy Dripping,
Ken

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List of Canadian DRIPs and SPPs Updated

2009-03-05T14:54:00.000-05:00

There have been three changes since my last list update. I have included a link to each story announcing the Dividend Reinvestment Plan updates.

I have added the following new plan:
Realex Properties Corp. (TSX:RLX)
Realex Properties Corp. announces Dividend Reinvestment Plan

I have deleted the following plan:
Homburg Invest Inc. (TSX:HII.B) - DRIP terminated
Homburg Invest Inc. announces dividend policy

I have updated the following plan:
Royal Bank of Canada (TSX:RY) – 3% discount added
Royal Bank of Canada announces amendments to its dividend reinvestment plan

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

Column on bank dividends

2009-03-02T16:00:00.001-05:00

In the Friday, February 27, 2009 edition of The National Post, columnist Jonathan Chevreau talks about the fact that the Royal Bank (TSX:RY) has "sweetened its dividend reinvestment plan (DRIP) by offering a 3% discount for common and preferred shareholders wishing to reinvest their dividends in more RBC stock."

This move falls on the heels of both The Bank of Montreal (TSX:BMO) and The Bank of Nova Scotia (TSX:BNS) which each implemented a 2% discount late last year.

As for me, I love discounts! They can increase your postion faster and at less cost. And as Chevreau says, "With banks yielding a mouth-watering 6.27% to 9.72% these days, what's not to like if you're an income-oriented investor with a long time horizon?"

The full article can be found at: Drip discount tough to avoid

2009 Mergent's Dividend Achievers list

2009-02-24T14:55:00.000-05:00

I last wrote about the Mergent's Dividend Achievers list in January 2008. However, since then Mergent's has changed their hyperlink to the list. As such, I have included the proper link in this post and on the Blog Roll below.

Every year Mergents compiles a list of companies, royalty income trusts and REITs from Canada that have increased their dividends for five consecutive years or more. The 2009 Canadian version now has 71 constituents, up from the 46 I reported last year. This increase was not an easy feat given the troubling economic times we now find ourselves in.

Stalwarts like The Bank of Nova Scotia (TSX:BNS), The Bank of Montreal (TSX:BMO), Fortis Incorporated (TSX:FTS) and TransCanada Corporation (TSX:TRP) are consistently on the list. However, several income trust funds that also have dividend reinvestment plans (DRIPs) find themselves on the list including Canadian Real Estate Investment Trust (TSX:REF.UN), Cominar Real Estate Investment Trust (TSX:CUF.UN) and Keyera Facilities Income Fund (TSX:KEY.UN)

Mergent's have also published another index called the Canadian High Yield Dividend Growth 30 Portfolio. To be included, companies must trade on a major stock exchange like the TSX, have five or more years of equal or increasing regular annual dividend payments, a minimum average daily cash volume of $3,000,000 USD and a current dividend yield of 1%. The 30 companies with the largest market cap as of the last trading day in December are chosen for inclusion.

This index could be useful for an investor who wants to invest their money in large cap firms only. The indexes are by no means identical as companies like George Weston Limited (TSX:WN) and Loblaws Ltd (TSX:L) exist in the latter list and not the former.

Finally, while most companies in the indexes have DRPs, not all do. This is why it is a good idea to compare the index's list of constituents to the List of Canadian DRIPs and SPPs on this site to see which companies offer a DRIP.

List of Canadian DRIPs Updated

2009-02-16T15:18:00.003-05:00

Well, it has been almost one year since my last major list update. I want to start out by apologizing for the delay. I have had good intentions of revising my dividend reinvestment (DRIP) list for several months now but something has always seemed to crop up. Recently, I have received a couple of inquiries as to whether I was ever going to update my list (thanks for taking the time to write!). It was then I realized that I needed to spend some time working on this.

So, I have compiled the following list of changes:

I have added the following new plans:
Canadian Oil Sands Trust (TSX:COS.UN) – DRIP reinstated
Corus Entertainment (TSX:CJR.B)
EnCana Corporation (TSX:ECA)
First National Financial LP (TSX:FN.UN)

I have deleted the following plans:
Boardwalk REIT (TSX:BEI.UN) - suspended
Brompton Equal Weight Income Fund (TSX:EWI.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Brompton Stable Income Fund (TSX:BSR.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Business Trust Equal Weight Income Fund (TSX:BWI.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Builders Energy Services Trust (TSX:BET.UN) - merged into Essential Energy Services Trust (TSX:ESN.UN)
Crown Hill Dividend Fund (TSX:PBK.UN) – merged into Crown Hill Fund (TSX:MYT.UN)
Fairway Diversified Income and Growth Trust (TSX:FDT.UN) – merged into Crown Hill Fund (TSX:MYT.UN)
Flaherty & Crumrine Investment Grade Preferred Fund (TSX:FAC.UN) – merged into Flaherty & Crumrine Investment Grade Fixed Income Fund (TSX:FFI.UN)
Fording Canadian Coal Trust (TSX:FDG.UN) - bought out by Teck Cominco (TSE:TCK.A)
Foremost Income Fund (TSX:FMO.UN) - suspended
Newalta Income Fund (TSX:NAL.UN) - converted to corporation
Paramount Energy Trust (TSX:PMT.UN) - suspended
Sixty Plus Income Trust (TSX:SIX.UN) - trust terminated
Strategic Energy Fund (TSX:SEF.UN) - converted to an open-end mutual fund called Sentry Select Energy Income Fund
Superior Plus Income Fund (TSX:SPF.UN) - suspended
Trinidad Energy Services Income Trust (TSX:TDG.UN) - suspended
Vermillion Energy Trust (TSX:VET.UN) - suspended

I have updated the following plans:
Bank of Montreal (TSX:BMO) – 2% discount added
Bank of Nova Scotia (TSX:BNS) – 2% discount added
Fortis Inc. (TSX:FTS) – maximum increased to $30,000; 2% discount added
NAL Oil & Gas Trust (TSX:NAE.UN) changed (DRIP suspended; SPP active)
Thomson Corporation – updated name and stock symbol to Thomson Reuters Corporation (TSX:TRI)
Toronto-Dominion Bank (TSX:TD) – 1% discount added
TransCanada Corporation (TSX:TRP) - discount increased to 3% in December

As well, I have verified that all of the company hyperlinks are working. They will again point the user to each company's DRIP information page.

While working on the blog I also had many ideas on how to improve it. So, I have created a list of additional items I wish to include and I will also be making constant improvements to the site over the next few weeks.

As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

News on two DRIP plans

2008-03-06T09:59:00.000-05:00

While researching changes to my list for the most recent update, I found a couple of news items that may impact some DRIPpers that frequent these boards.

Energy Savings Income Fund Amends DRIP Program
TORONTO, ONTARIO--(Marketwire - Jan. 24, 2008) - Energy Savings Income Fund (the "Fund") (TSX:SIF.UN) announced today that it has amended the Distribution Reinvestment and Optional Cash Payment Plan (the "Plan") to reduce the minimum number of Units required to be held by Unitholders to participate in the Plan from 500 Units to 100 Units. The amended Plan will enable Unitholders holding a minimum of 100 Units to acquire additional Units of the Fund.

Impax Energy Services Income Trust Announces Suspension of Cash Distributions
TORONTO, ONTARIO--(Marketwire - Dec. 6, 2007) - Impax Energy Services Income Trust (the "Trust" or "Impax") (TSX:MPX.UN) announced today that the Trust is suspending its monthly distributions following the payment of the previously announced distribution to unitholders of record as of November 30, 2007, scheduled for payment on December 14, 2007. Impax Energy Services Master Limited Partnership ("Impax LP") is also announcing the suspension of its Distribution Reinvestment Plan ("DRIP") in accordance with its terms. The DRIP provides the opportunity for holders of Exchangeable Class A and Class B Units of Impax LP to reinvest their cash distributions in additional Exchangeable Class A Units of Impax LP from treasury. The suspension of the DRIP will not affect the distribution payable on December 14, 2007, which will be reinvested in Exchangeable Class A Units.

Happing DRIPping,
Ken

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List of Canadian DRIPs and SPPs Updated

2008-03-05T12:07:00.001-05:00

As you can see, I have made some immense updates to the list of Canadian Dividend Reinvestment Plans.

Most noticeably is that companies offering Share Purchase Plans or Optional Cash Purchase Plans are now highlighted for easier viewing. As well, it has been three years since I have started this project and in that time some DRIPs have faded away but were somehow still listed. So, I have double-checked every listing on the page for accuracy. I have also taken the advice of some readers and have made each company name a hyperlink that will direct you to the plan details. Most links take you to either the Investor Relations page or straight to the DRIP information. The links provide a quick and easy way to research the particulars of each plan.

I have added the following new plans:
1. Canexus Income Fund (TSX:CUS.UN)
2. InterRent REIT (TSX:IIP.UN)

I have deleted the following plans:
1. Advanced Fiber Technologies Income Fund - taken private by Aikawa Iron Works Co., Ltd.
2. Agricore United - assets bought by Saskatchewan Wheat Pool (now Viterra) and James Richardson International Limited
3. Alberta Focused Income & Growth Fund and Vector Energy Fund - merged into ACTIVEnergy Income Fund (TSX:AEU.UN)
4. Atlas Cold Storage Income Trust - taken private by Eimskip Holdings Inc.
5. BPI Global Opportunities II Fund - DRIP terminated
6. Brompton MVP Income Fund - merged into Brompton VIP Income Fund (TSX:VIP.UN)
7. Canada Trust Income Investments - terminated October 31, 2007
8. Canadian Financial Income Fund - renamed Claymore Canadian Financial Monthly Income ETF (TSX:FIE)
9. Canadian Fundamental 100 Income Fund - merged into Claymore Canadian Fundamental Index ETF (TSX:CRQ)
10. Core IncomePlus Fund, Maxin Income Fund, MG Dividend & Income Fund and Pathfinder Income Fund - merged into YIELDPLUS Income Fund (TSX: YP.UN)
11. Crescent Point Energy Trust - DRIP suspended
12. Faircourt Income Split Trust, Faircourt Split Five Trust and Faircourt Split Seven Trust - merged into Faircourt Income & Growth Split Trust (TSX:FIG.UN). The new trust does not have a DRIP.
13. Fairway Investment Grade Income Fund and Long Reserve Life Resource Fund - merged into Fairway Diversified Income and Growth Trust (TSX:FDT.UN)
14. Fort Chicago Energy Partners L.P. (TSX: FCE.UN) - DRIP suspended
15. IPC US REIT - taken private by Everclear Acquisition Corporation, a wholly-owned subsidiary of Behringer Harvard REIT I, Inc
16. Legacy Hotels REIT - taken private by LGY Acquisition LP
17. Matrix Income Fund - merged into MINT Income Fund
18. Mortgage-Backed Securities Trust - merged into Sentry Select MBS Adjustable Rate Income Fund II (TSX:MGS.UN)
19. Peak Energy Services Trust - DRIP terminated
19. Summit REIT - taken private by ING Real Estate Canada Trust
20. Sunrise Senior Living REIT - acquired by Ventas Inc. (NYSE: VTR)
21. Thunder Energy Trust - taken private by Sword Energy Inc.
22. TransAlta Power L.P. - taken private by Cheung Kong Infrastructure Holdings Limited
23. Viceroy Homes - taken private by Growth Technologies (Russia) Limited

I have updated the following plan:
1. Lawrence Payout Ratio Trust – name changed to Lawrence Income & Growth Fund (LIGF)

In all, this update was a lot of work and I hope that you make excellent use of the results. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Enerplus Resources Fund (ERF.UN) and Focus Energy Trust (FET.UN) merge

2008-02-14T11:56:00.001-05:00

Enerplus Resources Fund (TSX:ERF.UN) announced February 13, 2008 the following merger and subsequent changes to their distribution re-investment plan:

Enerplus Resources Fund ("Enerplus") and Focus Energy Trust ("Focus") are pleased to announce that the merger of Enerplus and Focus pursuant to a plan of arrangement (the "Arrangement") was completed today.

The combination of Focus and Enerplus has created a large oil and gas
producer that possesses high quality, long life assets with an extensive
portfolio of resource play opportunities in shallow natural gas, Bakken light
oil, crude oil waterfloods, deep tight gas and the oil sands. Enerplus
Unitholders will enjoy a diversified and balanced portfolio of oil and gas
assets producing approximately 100,000 BOE/day with a proved plus probable
reserve life index of approximately 14 years.

As previously announced by Focus, the Focus Dividend Reinvestment Plan
("DRIP") was suspended such that the cash distribution to be paid on February
15, 2008 to holders of record on January 31, 2008 is not be eligible for
reinvestment under the Focus DRIP. As the Arrangement has been completed, the
Focus DRIP has been terminated. Former Focus Unitholders who are resident in
Canada and who are interested in participating in the Enerplus DRIP should
contact their broker, investment dealer, financial institution or other
nominee through which their Enerplus Units are held. If you are a registered
unitholder, you must complete and deliver an authorization form found on our
website at www.enerplus.com and submit it to CIBC Mellon Trust Company with
instructions on how you wish to participate in the Enerplus DRIP.

Note that I have now removed Focus from the DRIP list of companies.

Full information of Enerplus' announcement can be found here: Enerplus and Focus announce closing of strategic merger

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Changes to Eveready Income Fund (EIS.UN)

2008-02-04T10:40:00.000-05:00

Eveready Income Fund (TSX: EIS.UN) announced January 16, 2008 the following changes to their distribution re-investment plan:

"Eveready’s Board of Trustees has unanimously approved amendments to the Fund’s distribution policy to maximize the retention of operating cash flow to re-invest in growth. Eveready’s current monthly cash distribution of $0.06 per unit ($0.72 per unit on an annualized basis) will be eliminated and replaced with a quarterly “in-kind” distribution of $0.18 per unit ($0.72 per unit on an annualized basis). Distributions settled “in-kind” means that unitholders will receive additional Fund units instead of cash. “In-kind” Fund units will be issued at a deemed price equal to the volume-weighted average price of all units traded on the Toronto Stock Exchange on the ten trading days preceding the applicable record date. Eveready anticipates that the next distribution will be paid on or about April 15, 2008 to unitholders of record as of the close of business on March 31, 2008."

In summary, they have made the reinvestment of distributions mandatory for all shareholders. They have also eliminated the 5% discount and will now purchase the shares using a 10-day average price. Finally, they have changed the payment period from monthly to quarterly with the unit distribution amount staying the same. As such, I have changed Eveready's record on the DRIP list of companies to reflect that distribution reinvestment is now mandatory and that the discount has been removed.

Eveready is the first company that I have heard of that has gone to this type of mandatory dividend reinvestment program. This is how the company explained the move: “The market has been sending us a strong signal that our current distribution policy is not the most effective use of our cash,” comments Peter Lacey, Eveready’s Chairman of the Board. “We concur and believe that reinvesting the Fund’s cash in growing our business will maximize Eveready’s long-term value. Essentially, our new distribution policy will provide the benefits that a corporation enjoys of being able to reinvest its profits in growth, yet retains the positive flow-through tax characteristics of an income trust until our likely conversion to a corporation in 2011.”

The last line makes reference to the Canadian government's implementation of taxes on income trusts starting in 2011. (More info here: Canada’s New Government Announces Tax Fairness Plan) Eveready might be the first of many income trust funds in Canada to reduce or remove their distributions so they can stockpile money for the eventual tax hit once they change to a corporation.

Full information of Eveready's announcement can be found here: Eveready Income Fund Announces 2008 Growth Plans and Approves Strategic Changes to Distribution Policy

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S&P/TSX Canadian Dividend Aristocrats Index

2008-01-29T10:19:00.001-05:00

In late October of last year, the S&P announced that they were introducing the S&P/TSX Canadian Dividend Aristocrats Index. Similar in nature to the American version, which is entitled the S&P High Yield Dividend Aristocrats, the indices select the most consistent dividend-paying stocks in their respective markets.

However, the criterion used to select them differs widely. Whereas the American list states that companies must have increased dividends every year for at least 25 consecutive years, the Canadian edition only requires that a firm have increased dividends every year for at least seven consecutive years. Conversely, compare this to the Mergent's Dividend Achievers list and the S&P actually requires an extra two years of increased dividends. Does this ensure consistent dividend growth for the corporations on the S&P list in the years to come? Only time will tell.

Even with the much stricter standards, the U.S. list contains 49 companies. The Canadian version only contains 36 as of December 21, 2007. The discrepancy is probably related to the difference in size of the two markets. If Canada used the 25 year criteria then the list would be very short indeed. As it is, both the Mergent’s and S&P lists mirror one another. About half of the companies listed have a Dividend Reinvestment Plan (DRIP) and of those corporations I would say most offer a Share Purchase Plan (SPP) or Optional Cash Purchase Plan (OCP) which allows the user to purchase additional stocks through the company's transfer agent.

The index is weighted heavily (approximately 60%) towards the Financials and the list includes businesses like AGF Management Limited (AGF.B), Manulife Financial (MFC), Royal Bank of Canada (RY) and Sun Life Financial (SLF). The next highest emphasis is Energy and Utilities (about 27%) with AltaGas Income Trust (ALA.UN), Enbridge Incorporated (ENB), Energy Savings Income Fund (SIF.UN) and Imperial Oil (IMO) leading the way.

Although the S&P/TSX Canadian Dividend Aristocrats Index and Mergent's Dividend Achievers list are very similar, the addition of another directory of high dividend paying stocks to the Canadian landscape is a welcome addition for investors looking for solid stocks to invest in.

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2008 Mergent's Dividend Achievers list

2008-01-24T10:11:00.000-05:00

It has been a couple of years since I wrote about the Mergent's Dividend Achievers but in that time the list has grown substantially. The 2008 Canadian version now has 46 constituents, up from the 35 I reported two years ago.

Every year Mergents compiles a list of companies from Canada that have increased their dividends for five consecutive years or more. This is an easy task for most major firms like Banks of Nova Scotia (BNS), Bank of Montreal (BMO), Fortis Incorporated (FTS) and TransCanada Corporation (TRP). However, Income Trusts/Funds and Real Estate Investment Trusts (REITs) have also started popping up on the list. Firms like AltaGas Income Trust (ALA.UN) and Cominar REIT (CUF.UN) have made strong showings of late.

As I stated in my previous post, "Using this criterion for choosing companies that pay an ever increasing dividend is especially important for those investors who are looking to replace their salaries with dividend payments as they get older. A rising dividend will help these people keep pace with inflation. However, don't disregard the importance of a growing dividend for those in their share accumulation period (like moi) as the growing dividend means it will allow me to purchase more shares on a quarterly basis through the DRIP."

The above remains true especially when companies have a high dividend yield with little to no dividend growth. A good example is TransAlta Corporation (TA). The yield sits at a reasonable 3.30% but the company has not raised the dividend since 1999! For an excellent explanation as to why this can be a problem, please see point #9 of Tom Connolly's "Investing Yourself" document. In fact, the whole article is a wonderful primer on DIY investing and I read it often!

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Another New Year, Another New Update!!

2008-01-18T22:48:00.000-05:00

I have made some massive changes to the site after being inactive for a while. Please see the lists below for full details.

As well, thank you everyone for patience. I hope that the time between updates will not be so long in future.

I have added the following new plans:
1. Builders Energy Services Trust (BET.UN)
2. Charter REIT (CRH.UN)
3. Deepwell Energy Services Trust (DWL.UN)
4. Enerflex Systems Income Fund (EFX.UN)
5. Energy Savings Income Fund (SIF.UN) – NOTE: 500 shares needed to enroll
6. EnerVest Energy & Oil Sands Total Return Trust (EOS.UN)
7. Extendicare REIT (EXE.UN)
8. Fairway Investment Grade Income Fund (FGF.UN)
9. Fording Canadian Coal Trust (FDG.UN)
10. Huntingdon REIT (HNT.UN)
11. InStorage REIT (IS.UN)
12. Killam Properties (KMP)
13. Long Reserve Life Resource Fund (LRF.UN)
14. Macquarie Power & Infrastructure Fund (MPT.UN)
15. Medical Facilities Corporation (DR.UN)
16. Oil Sands Sector Fund (OSF.UN)
17. Precious Metals and Mining Trust (MMP.UN)
18. Sentry Select China Fund (CHZ.UN)
19. Shaw Communications (SJR.B)
20. Strategic Energy Fund (SEF.UN)
21. Superior Plus Income Fund (SPF.UN)
22. Top 10 Canadian Financial Trust (TCT.UN)
23. Uranium Focused Energy Fund (UF.UN)
24. Westshore Terminals Income Fund (WTE.UN)

I have updated the following plans:
1. Alcan Aluminium Incorporated- firm taken private by Rio Tinto
2. Amalgamated Partnership Income Units - DRIP suspended
3. Bonnett's Energy Services Trust - DRIP suspended
4. Canetic Resources Trust - merged into PrimeWest Energy Trust
5. Cominar Nihon REIT – changed name to Cominar REIT
6. Daylight Energy Trust - name changed to Daylight Resources Trust; Minimum amount changed to $1,000 from $2,000 while the maximum changed to $100,000 per month instead of $100,000 per year
7. Enbridge Incorporated (ENB) - 2% discount added
8. Ipsco Incorporated - firm taken private by SSAB Canada Inc.
9. MCAP Incorporated - name changed to MCAN Mortgage Corporation (MKP)
10. MDS Incorporated - DRIP suspended
11. PrimeWest Energy Trust - firm taken private by the Abu Dhabi National Energy Company, also known as TAQA

That's it for now. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Mid-January update

2007-01-20T15:15:00.000-05:00

After the October announcement of taxation on Income Trusts, there has been some severe fallout. Some trusts have ceased distributions while others have suspended their DRIPs. I am sure there will more changes to come in future.

As such, we are adding three new plans and disposing of another six. I have also modified one plan that has removed their Optional Cash Purchase plan. Please see the list below for full details.

I have added the following new plans:
1. Faircourt Split Seven Trust
2. Focus Energy Trust
3. Lanesborough REIT

I have deleted the following plans:
1. Alexis Nihon REIT – merged with Cominar REIT to form Cominar Nihon REIT
2. Canadian Oil Sands – DRIP suspended
3. O & Y REIT – merged into Brookfield Asset Management Inc.
4. Precision Drilling – DRIP suspended
5. Retirement Residences REIT – taken private
6. True Energy Trust – DRIP suspended

I have also updated the following plans:
1. Alcan Aluminium Incorporated – Share Purchase Plan suspended

That's it for now. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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New Year, New Update!!

2007-01-01T20:32:00.000-05:00

I have made some more changes to the table again. This time we are adding 20 new plans and disposing of another 20. I have also modified two plans that have removed their discounts on Optional Cash Purchases. Please see the lists below for full details.

I have added the following new plans:
1. Advantage Energy Income Fund
2. Alberta Focused Income & Growth Fund
3. Amalgamated Partnership Income Units
4. Canadian Financial Income Fund
5. Citadel Premium Income Fund
6. Citadel Stable S-1 Income Fund
7. diversiTrust Income+ Fund
8. diversiTrust Stable Income Fund
9. Financial Preferred Securities Corporation
10. Equal Weight Plus Fund
11. Foremost Income Fund
12. Income & Equity Index Participation Fund
13. Lawrence Payout Ratio Trust
14. Pantera Drilling Income Trust
15. Peak Energy Services Trust
16. Retrocom Mid-Market REIT
17. Sound Energy Trust
18. Strategic Energy Fund
19. Sustainable Production Energy Trust
20. Trilogy Energy Trust

I have deleted the following plans:
1. APF Energy Trust
2. Brascan
3. CanWest Global
4. Cathedral Energy Services
5. Citadel Income & Growth Fund
6. Citadel Multi-Sector Income Fund
7. Falconbridge Ltd.
8. First Premium U.S. Income Trust
9. Hudson's Bay Company
10. IndexPlus 2 Income Fund
11. Ketch Resources Trust - merged into Advantage Energy Income Fund
12. Lafarge Canada Incorporated
13. Liquor Store Income Fund
14. MYDAS Fund
15. NAV Energy Trust - merged into Sound Energy Trust
16. Petrofund Energy Trust
17. Russell Metals Incorporated
18. Sage High Yield Debt Trust
19. Sequoia Oil & Gas Trust - merged into Daylight Energy Trust
20. TGS North American REIT

I have also updated the following plans:
1. Home Equity Income Trust – removed 4% discount
2. TransAlta Corporation – removed 5% discount

That's it for now. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Smaller update

2006-10-09T19:50:00.000-04:00

Just a quick update this time to add three news plans and to modify two others.

I have added the following new plans:
1. Equal Sector Income Fund
2. MG Dividend & Income Fund
3. Sun Life Financial

I have also updated the following plans:
1. Daylight Energy Trust - added 5% discount
2. Toronto-Dominion Bank – removed 5% discount

That's it for now. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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NEW Update!!

2006-09-24T15:12:00.000-04:00

I thought it about time that I made another update of the site. As you can see the table below has been updated to reflect the many changes DRIPs have seen over the months.

I have added the following news plans:
1. Bell Aliant Regional Communications Income Fund
2. Brookfield Asset Management Inc.
3. Canadian Tire Corporation (CTR.NV)
4. Cervus LP
5. Citadel Income & Growth Fund
6. Citadel Multi-Sector Income Fund
7. Crown Hill Dividend Fund
8. diversiTrust Income Fund
9. Energy Plus Income Fund
10. Falconbridge Ltd.
11. First Capital Realty Inc.
12. Magna International Incorporated (MG.MV.B)
13. Morguard Corporation
14. MYDAS Fund
15. Precision Drilling Trust
16. Series S-1 Income Fund
17. Westfield REIT
18. Whiterock REIT

I have deleted the following plan because it was merged into Bell Aliant Regional Communications Income Fund:
1. Aliant Inc.

I have also updated the following plans:
1. Bank of Nova Scotia - MIN changed to $100/Month
2. Home Equity Income Trust – added 4% discount
3. InnVest REIT – added 3% discount
4. Inter Pipeline Fund – added 5% discount
5. Onex Corporation – removed the 5% discount
6. Plazacorp Retail Properties Limited - added 3% discount
7. Pulse Data Incorporated - MAX changed to $50,000/Year
8. Sunrise Senior Living REIT – added 3% discount
9. Vermillion Energy Trust - MAX changed to $5,000/Month

That's it for now. As always, if you see any discrepancies please post a comment.

Happing DRIPping,
Ken

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Mergent's Dividend Achievers - An excellent resource for choosing your DRIPs

2006-03-30T09:53:00.000-05:00

There's an excellent resource out there for choosing dividend-paying companies. It's called the Mergent's Dividend Achievers list and there's a list especially for Canadians.

Every year Mergent's compiles a list of companies that have increased their dividends for five consecutive years. This would seem an easy task for most companies but there are only 35 firms on this year's list! Most of the banks are there but massive dividend payers like TransCanada Corp., BCE and TransAlta are all missing.

Some of the new companies added this year are: Atco Ltd., Canadian Western Bank, H & R REIT, Manulife Financial and Sun Life Financial.

Using this criterion for choosing companies that pay an ever increasing dividend is especially important for those investors who are looking to replace their salaries with dividend payments as they get older. A rising dividend will help these people keep pace with inflation.

However, don't disregard the importance of a growing dividend for those in their share accumulation period (like moi) as the growing dividend means it will allow me to purchase more shares on a quarterly basis through the DRIP.

So, if you are looking for an additional way of choosing a new DRIP, check out the Mergent's list here: Mergent's Dividend Achievers

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Manulife Financial - Scourge of the DRIPping world?

2006-03-27T13:25:00.000-05:00

Although this post is a little late, for those of you who didn't know Manulife Financial has instituted a new dividend reinvestment plan.

Widely anticipated, the company has let the DRIPping community down by creating a plan that very fee laden. Although many U.S. companies have been putting fees on their DRIPs for years, Canadians have been relatively lucky by not having many plans that have additional fees for buying shares. Most though have fees for selling shares through the plans, with most averaging about $0.15 per share.

Manulife has created a program that has been described as the most fee instenisve DRIP on both sides of the border! Here's the particulars:

Optional Cash Payment Setup Fees: $15
Minimum Investment: $100
Reinvestmnet Charge: 5% of dividend payment
Sale: $20 per sale plus $0.06 per share

The plan particulars can be found here: Manulife Financial DRIP

Manulife doesn't seem likely they will change this plan which is a shame as it would have received great support from everyone I spoke to. Another Canadian insurance company, Sun Life, is now considering a DRIP. Let's hope that they do not follow Manulife's lead in demonstrating what a DRIP should be.

Ken

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Looking to play the energy market?

2006-03-24T15:10:00.000-05:00

For those of you who are looking to play the energy market, I came across an excellent article from the Globe and Mail that charts the progress of Energy Stocks vs. Energy Trusts.

The article states that "Over the past three years, the average total return from the 15 largest oil stocks beat the average from the 15 largest trusts 24.7 per cent to 22.4 per cent. In the past 12 months, trusts beat stocks 34.8 per cent to 33.6 per cent (total returns include share or unit price gains plus dividends or distributions)."

Although the piece dates from May 2005, I believe there is still some worthwhile nuggets of information in here for those looking to find a true bargain.

Free Shipping on Brand New books!

Monster Update!!

2006-03-22T20:18:00.000-05:00

I thought it about time that I made another update of the site. As you can see the table below has been updated to reflect the many changes DRIPs have seen over the past eight months.

I have added the following news plans:
1. ActivEnergy Income Fund
2. Brascan SoundVest Diversified Income Fund
3. Brompton Equal Weight Income Fund
4. Brompton Equal Weight Oil & Gas Income Fund
5. Brompton MVP Income Fund
6. Brompton Stable Income Fund
7. Business Trust Equal Weight Income Fund
8. Canadian Fundamental 100 Income Fund
9. Canetic Resources Trust
10. CML Healthcare Income Fund
11. Core IncomePlus Fund
12. Daylight Energy Trust
13. Faircourt Income Split Trust
14. Faircourt Split Five Trust
15. Flaherty & Crumrine Investment Grade Fixed Income Fund
16. Flaherty & Crumrine Investment Grade Preferred Income Fund
17. IndexPlus Income Fund
18. IndexPlus 2 Income Fund
19. ING Direct Canada
20. Ketch Resources Trust
21. Keyera Facilities Income Fund
22. Manulife Financial
23. Matrix Income Fund
24. Maxin Income Fund
25. Mint Income Fund
26. Mortgage-Backed Securities Trust
27. Pathfinder Income Fund
28. Penn West Energy Trust
29. Sequoia Oil & Gas Trust
30. Thunder Energy Trust
31. True Energy Trust
32. Vault Energy Trust
33. Vector Energy Fund
34. Yield Plus Income Fund

I have deleted the following plans because the first two have suspended their DRIPs, Viking has merged with Harvest Energy, and the forth has been replaced by Mint Income Fund:
1. Dofasco
2. Terasen
3. Viking Energy Royalty Trust
4. Middlefield High Income Trust

I have also updated the following plans:
1. Harvest Energy - $5,000 per remittance and up to $100,000 aggregate amount of remittances by a unitholder in any calendar month
2. Canetic Resources Trust replaces Acclaim Energy Trust, APF Energy Trust and StarPoint Energy Trust through a succession of mergers.
3. IPC US Income Commercial REIT is now IPC US REIT; added 3% discount
4. Peyto - now $1,000 MIN; no Max
5. Pulse Data Incorporated - MIN reduced from $2,000 to $200

That's it for now. As always, if you see any discrepancies then please post a comment. Don't be discouraged by the fact you now have to enter Word Verfication. I am using this step to cut down the amount of spam the site receives.

Happing DRIPping,
Ken

Update

2005-08-15T15:37:00.000-04:00

As you have probably noticed, this site has changed quite a bit. The table of DRIPs has finally been formatted correctly and I have added some liks to various DRIPping resources for those people who wish to explore the idea further. As well, there are links to several other Canadian blogs where people talk investing.

My goal with this site is to post DRIP news weekly. Depending on the news of the week, posts may appear more often so please check back often. I want to develop the largest list of CDN DRIPs on the web but I cannot so it without you. So, thanks to everyone for their tremendous feedback and your additions to the list. That being said, when you post a new DRIP please give me as much information as possible eg. Name, Symbol, does it have a DRIP, does it have a SPP, is there a discount, etc. This will help get the information on the site as quickly as possible.

So, this week I have added two new DRIPs: Cathedral Energy and NAV Energy. Cathedral was mentioned through a post but I was unable to find any information about their plan on their website. If anyone DRIPs this, please post the missing information.

Thanks and happing DRIPping,
Ken

2005-08-09T14:52:00.000-04:00

Hi All,

As you can see, the formatting has been fixed. It now all appears without having to scroll down.

If you have any additions or corrections to the list, please reply to this public thread and I'll update the list ASAP.

Thanks,
Ken

DRIP List - UPDATE

2005-07-18T13:46:00.000-04:00

Hi All,

Just a quick note to mention a big thank you to the people who have added their comments so I can keep the site up to date. Google searches acan only pick up so much when looking for new DRIPs.

I have added two new DRIPs, both income trusts:
- Eveready Income Fund
- Liquor Store Income Fund

I have also modified two exisitng entries:
- Borealis Retail REIT changed its name to Primaris Retail REIT
- Canadian Apartment Properties REIT merged with Residential Equities REIT and so the latter entry was removed

As you can see, the formatting is still a problem and something I am working on. Just scroll down to see the entire list.

If you have any additions or corrections to the list, please reply to this public thread and I'll update the list ASAP.

Thanks,
Ken

Introductory message

2005-02-28T13:14:00.000-05:00

Hello,

My name is Ken and I have created this site as a resource where I can compile a definitive list of Dividend Reinvestment plans offered by Canadian companies.

I decided to create my own list after finding little up-to-date information on this topic. I have looked at each plan listed in this table so as to make sure all information is accurate.

I also have opened this site up to comments from visitors. If you see erroneous data in the table or if you want me to add a DRIP I missed, please post a message here.

Thanks for reading,
Ken