A DRIP is a "dividend reinvestment program" that enables stockholders to automatically reinvest dividends paid by the company into the purchase of more shares of stock. The program also allows investors to purchase fractional shares of stock in the event that the dividends received aren't large enough to purchase entire shares.

1. How to Buy a DRIP Stock.
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2. Find companies that offer DRIPs

3. Select the stock or stocks you want to buy

4. Ensure you have a balanced portfolio

5. Purchase company stock

6. Invest in DRIPs through your online brokerage account

7. Enroll in a DRIP program through a transfer agent

8. Pay attention to fees

9. Set up an automatic investment schedule

10. Prepare for taxes