My first thought was that it was maybe a corporate dividend reinvestment plan, but I checked and AAPL doesn’t have one. So at least in the case of your Apple stock, it is USAA’s plan. (There are some corporate plans that allow you to reinvest directly, sometimes at a discount to closing price on the payment date.) Keep in mind, that dividend reinvestment is probably your choice, you don’t have to reinvest. Essentially, what you’re doing is buying fractional shares of stock, presumably without paying a commission. So you’ve paid $1.20 for 64 stock transactions. That’s pretty cheap.