P&G Shares Purchased

Early last month, I sent the account application form together with a $500 check to P&G to invest in their stocks. The confirmation mail arrived yesterday, saying the initial purchase was made on December 1st. This part of my recent DRIP investments in dividend-paying stocks. So far I have bought three stocks: Bank of America (BAC), Progress Energy (PGN), and P&G (PG). The first two were purchased via DRIP programs at ComputerShare.com and PG was from the company directly. Here's a summary of P&G's Shareholder Investment Program (SIP):

• $250 minimum initial investment;
• $7.50 one-time account setup fee;
• $50 minimum additional purchase with $1.00 per share fee via bank account and $2.50 via check or money order, plus $0.02 per share commission;
• 5% of quarterly dividend up to maximum of $1.25 plan maintenance fee;
• Commission free dividend reinvestment if using electronic statement;
• $10 stock sale fee plus $0.02 per share commission.

Overall, the plan's fee structure is not as simple as that of BAC or PGN (no buy/sale commission and no account maintenance fee), though the fees are not terribly high (it could become a problem when the number of shares reaches a certain level later on). In addition, I have to request an online access to manage my PG shares as P&G doesn't provide any online registration when the first purchase was made. Still paper based process and it's not very convenient at all.

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