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Dividend reinvestment plans
Dividend reinvesting means using the dividends you earn to buy more shares instead of taking the money as cash. Stake currently does not provide a DRP. However, you can manage DRP preferences directly through the share registry for the companies you hold.
How do Dividend Reinvestment Plans (DRPs) work?
Whilst your dividends are paid to your Stake AUS account by default, you can choose to opt in to a Dividend Reinvestment Plan (DRP).
To do this, head to the share registry acting on behalf of the company you hold shares in. From there, you can elect either Full Participation or No Participation in the DRP. Not all companies offer a DRP, and some ASX-listed companies set DRP as their default.
You can also nominate a different bank account for your dividend payments through the share registry’s website. Keep in mind that bank account details reset each time you purchase new shares, so you’ll need to update these again if required. This reset does not apply to DRP preferences.
After buying shares, the share registry will send you a letter or email with the details you need to manage your preferences.
For specifics about a company’s DRP, we recommend contacting the relevant share registry directly.
Does Stake Wall St offer a Dividend Reinvestment Plan (DRIP)?
Stake Wall St doesn’t currently offer an automatic Dividend Reinvestment Plan (DRIP).
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