The Canadian bank on Friday said that it is ending its dividend reinvestment and share purchase plan, also known as DRIP, effective Sept. 30.
Investors will now only be able to receive their dividends in cash, rather than have the option to convert them into newly issued stock.
The new policy will be effective for the next quarterly dividend of 47 Canadian cents (34 U.S. cents) a share, which will be payable on Oct. 30 to shareholders of record as of Oct 1.
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