Goldcorp implements a dividend reinvestment plan
TORONTO (miningweekly.com) – TSX- and NYSE-listed Goldcorp has implemented a new dividend reinvestment plan (DRIP) that would offer shareholders an opportunity to increase their investment in Goldcorp without incurring further transaction costs by receiving dividend payments in the form of common shares of the company.
The arrangement obviated sundry brokerage commissions, administrative costs or other service charges.
According to a Goldcorp statement issued on Wednesday, the DRIP allowed shareholders to reinvest their cash dividends into additional common shares issued from treasury at a 3% discount to the average market price.
The company advised that participation in the DRIP would be optional and would not affect shareholders' cash dividends unless they chose to participate in the programme.
To participate in the DRIP, registered shareholders would be required to deliver a properly completed enrolment form to CST Trust Company five business days before a dividend record date.
Goldcorp had on March 7 declared its most recent dividend of $0.02 a share.
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