Common use of Dividend Reinvestment Program Clause in Contracts

Dividend Reinvestment Program. If I participate in the Dividend Reinvestment Program, all dividends or distributions paid on eligible securities I have selected will automatically be reinvested into shares of the same security. Xxxxxx Xxxxx will purchase shares of the reinvestment security in the open market and the price I will pay will be the weighted average price paid by Xxxxxx Xxxxx in any such market transaction(s). Generally, reinvestment purchases will be made in advance of and credited to my Account on the distribution payment date. In the event the distribution payment amount on an owned security is not known in advance, the purchase and reinvestment will be made as soon thereafter as the amount of the distribution payment can be calculated with certainty, including any necessary currency conversions. If a company offers its shareholders an option to receive their dividend in company stock, known as a scrip dividend, we will use your cash or reinvest election as the basis for allocating your dividend payments. If you elect or have elected company stock and the company suspends or cancels its company stock option, we will continue your accumulation of shares, by reinvesting your dividends through Xxxxxx Xxxxx’ Dividend Reinvestment Program. If the company subsequently reinstates their company stock option and you are reinvesting, your dividends will be paid in shares in accordance with the company’s scrip dividend program.

Dividend Reinvestment Program. If I participate in the Dividend Reinvestment ProgramWith this feature, all dividends or distributions paid on eligible listed securities that I have selected designate will automatically be reinvested into shares of the same security. Xxxxxx Xxxxx will purchase shares of the reinvestment security in the open market and the price I will pay will be the weighted average price paid by Xxxxxx Xxxxx in any such market transaction(s). Generally, reinvestment Reinvestment purchases will be made in advance of the distribution payment date and shares purchased will be credited to my Account account on the distribution payment date. In the event the distribution payment amount on an owned security is not known in advanceadvance of the distribution payment date, the purchase and reinvestment will be made as soon thereafter as the amount of the distribution payment can be calculated with certainty, including any necessary currency conversions, if necessary. If a company offers its shareholders an option to receive their dividend in company stock, known as a scrip dividend, we Xxxxxx Xxxxx will use your my cash or reinvest election as the basis for allocating your my dividend payments. If you I elect or have elected company stock and the company suspends or cancels its company stock option, we Xxxxxx Xxxxx will continue your my accumulation of shares, by reinvesting your my dividends through Xxxxxx Xxxxx’ Dividend Reinvestment Program. If the company subsequently reinstates their company stock option and you are I am reinvesting, your my dividends will be paid in shares company stock in accordance with the company’s scrip dividend program.