Claymore Investments, Inc. is changing its automatic dividend reinvestment plan, the provider of exchange-traded funds said Thursday.
The Auto DRIP was established on January 28.
In an effort to accommodate the requirements of a select number of CDS participants, Claymore will remove the “automatic” enrolment feature of the Auto DRIP such that unitholders of the ETFs who wish to have their distributions reinvested will be required to contact their investment advisor or brokerage firm directly.
This amendment is effective immediately, and the plan will be simply referenced as a “DRIP” on a going-forward basis, Claymore says.
No action is required for those unitholders wishing to receive their distributions in the form of a cash payment.
IE
Claymore amends dividend reinvestment plan
- By: IE Staff
- May 14, 2009 May 14, 2009
- 16:30