HY

02 Apr 2020

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General Investing

Dividends receiving for custodian account - Worth to transfer to own CDP account?

Recently bought shares via a recently opened SCB account. Are there options for me to choose for dividend reinvestment via custodian account? For long term investing, is it worth it to transfer all my stocks to my own CDP account?

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Wrong Sean

01 Apr 2020

If the company offers dividend reinvestment for their stock, SCB will contact you via SMS or letter or online platform to inform you of the corporate action. You will have to call their hotline or log on to the platform and inform SCB of the option you want to take. Same for any rights issue, offers etc.

Do note if there may be transfer costs if you want to move stocks from SCB to your own CDP account.

Also once the stocks are in your CDP account, you have to leverage brokerages that can link to CDP to transact. Their transaction costs might be higher.

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Is it worth to transfer stocks from my various RSP plan to my CDP account? On average, I believe is about $25 per stock.?

Should I transfer shares out from my custodian/prefunded account to my CDP? Just applied for CDP account and waiting for it to be ready.

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