Recordkeeping with Your Statements
In addition to checking your statements, you should also build a spreadsheet for each stock that you own. Over the life of the DRIP or DSP account, you will need to know how much cash you invested directly in the stock, as well as how much was reinvested for you from dividend payouts. You also should track any fees that you pay.
Build a spreadsheet that can help you keep track of the shares of stock you own and how much you paid for them. The spreadsheet should have at least six columns:
• Date of transaction
• Cash investments—dollar amount invested
• Cash investments—stock price paid
• Dividends—cash amount reinvested
• Dividends—stock price paid
• Number of shares held
By keeping this data you’ll have ...