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DRIP Plan Highlights |
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Enrollment |
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Initial Purchase |
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$500 |
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Purchases |
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Minimum purchase |
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$50 |
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Maximum purchase |
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$10,000 |
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Fees |
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Account Setup Fee |
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None |
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Automatic Invesment Fee |
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None |
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Optional Cash Purchase |
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None |
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Reinvestment Fee |
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None |
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$15.00 |
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Company Web Site |
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Additional Plan Information |
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Independent Bank Corporation DRIP Details:
Independent Bank is a bank holding company that operates Rockland Trust in Massachusetts. The Independent Bank Dividend Reinvestment and Stock Purchase Plan offers an attractive holding vehicle for your Independent Bank investment with low fees and potential for up to a 5% discount on shares purchased through plan. For most investors the Independent Bank DRIP would be your lowest cost holding vehicle for your INDB investment.
Pros:
Up to a 5% discount on shares purchased through plan
No account setup fees
No dividend reinvestment fees
No investment fees
Cons:
Above average stock sales fee ($15 + brokerage commissions)