Expert: Steven Taylor - 2/1/2012

Question
I have stocks that I have purchased through a DRIP plan for Fortis, Imperial Oil and Enbridge. How do I now go about selling them?

Answer
Mike, there are two kinds of DRIP Plans. The first is directly with the companies, and the second is through certain brokerage firms that offer plans for clients. I am assuming you are in the first type, as if you were in the second you could just call your broker and sell.

Since you are buying the shares directly from the specific companies, you will often have to sell them the same way. Each Plan will have a Plan Administrator that handles the buying and administration. I suggest you contact the Administrator for each company and say you are interested in selling some, or all, of your shares. They should have a process for selling in place and be able to handle it directly. The name of the administrator and contact information should be on each Plan summary or account statement, or should also be available on the Company's website.