As a new BHP shareholder with a preference to go long, I naturally read the DRP documentation (BHP DRP Rules and Terms and Conditions). It seems that there is a dealing fee of 0.75% (£2.50 being the minimum fee) plus a stamp duty reserve tax of 0.50% applied to every purchase.
I would like to ask shareholders who have elected participation in the DRP whether or not the aforementioned fees are clearly displayed on their DRP statements.
Considering that the DRP essentially charges a brokerage fee of 1.25%, I would imagine that most shareholders prefer to top-up using their existing brokers, some of which have lower fees (e.g. 0.12% for CommSec).
BHP Price at posting:
$45.40 Sentiment: Buy Disclosure: Held
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