Where do the dividends go?
Hello, I have noticed a number of dividend payments on my account. Can you tell me where these have been allocated? Were they reallocated to buy more units in my existing portfolio? - Submitted by Mark
Unless you have chosen to have the income (dividends and interest) paid to your bank account, these will eventually be re-invested across your holdings.
InvestSMART does not participate in dividend reinvestment plans. This means that the dividends from the holdings won't automatically be re-invested in the same holding they originated from.
When the dividends from your holdings are paid, they will go into the cash component of your account. When the cash component is out of balance, the default setting is for the cash to be invested across the other holdings.
You can elect to have the dividends paid out instead in a monthly income sweep. At the end of each month, all dividends and interest received by your account will be tallied and paid out to the bank account you nominated in your application form. You can view dividends by going to My Account > My Investments > Portfolio Reporting > Dividends & Interest or here.
View transactions here or go to My Account > My Investments > Portfolio Reporting > Transactions