I've always wondered...what's the best way to go about doing a DRIP?
First, Find a stock you'd like to buy, investigate their DRIP on that Company's website under "Investor Relations". Look at fees, initial investment minimums, as these vary.
Next, Buy a share of stock. In most cases, you only need to purchase one whole share of stock to enroll in a DRIP, but some companies may require more. You must make the purchase directly through the program or transfer the shares from your brokerage firm, as the shares must be registered in your name.
Then, Complete paperwork to enroll in the DRIP. This paperwork varies from company to company and in some cases you may be able to register online. If you cannot find the applications, call the company's investor relations department or look for its transfer agent. A lot of companies use Computershare.com
as their transfer agent. (link includes list of 600 companies offering DRIPs)
Finally, Monitor your accounts. Once you've completed the paperwork and sent it in, keep an eye on your DRIPs to ensure that all is working as planned.
I'll send you the bill for my services