Limited Choices of Stocks
You can’t open a DRIP or DSP with every stock on the exchange. About 1,600 companies offer a DRIP or DSP. We focus on some of them in Appendix C.
In order to open a direct stock investing account, the company must offer the option. But you can always set up a synthetic DRIP and have your dividends reinvested through most online discount brokers. We talked about synthetic DRIPs and how they work in Chapter 10.
Most of the companies that don’t offer DRIPs or DSPs are smaller, and many of them don’t pay dividends, so this should not be a major problem for you. You can still find a broad selection of industries represented in the DRIPs and DSPs that are offered. Most of the companies will be large, well-respected, blue-chip ...