Will you have dividend reinvestment option straight away? for long term investors that is a major advantage.
That doesn’t really clarify if there’s a automatic option, Curently I have dividends automatically reinvested when they reach a certain level. Also with the option for fractional shares dividend reinvestment could potentially happen even before divis add up to the price of a share
I think there won’t be auto reinvestment of dividends to start with. It’ll probably come later. To be honest I would prefer IFTTT or Zapier integration first as it can open up more possibilities, including auto reinvestment.
We’d like this, too.
In the MVP we have now, you get your dividends as cash (obviously, no fees or deductions from us). I think @rob can share more about future plans in relation to DRIP.
Automatic dividend reinvestment is definitely on our roadmap - with fractional shares it offers a great way to easily keep growing your investment. We’ve spoken elsewhere about some of the features we’re working on, including autopilot for your investments, and this sits within that project.
As @Viktor says, currently you just get the cash and it is up to you to reinvest, but hopefully we can change that in the near future!
Any timeline for auto dividend reinvestment?
Not yet unfortunately, the next enhancement for dividends will add them to the Activity feed, we’ll keep you updated here
My investment dealing on Freetrade is going to be purely value/dividend driven for the long term, so would really appreciate automatic dividend reinvestment being applied
DRIP is a great way to compound wealth over time, so I also support this idea!
Its handy as it allows you to reinvest in a business you already own and understand, rather than getting some cash and not knowing what to do with it!
Until auto-reinvestment is available, in the meantime, you could always just manually purchase the same stocks when your dividends are paid, at no extra cost.
A post was split to a new topic: SCRIPS
So does the dividend cash just sit idly on your account? Seems like Drip needs to be added to the app as soon as you can. It’s now May so wondering where you are with adding the Activity feed for dividends, and how soon you see Drip being added.
Yes, until you reinvest it you’ll get a notification when you receive the payment so you know it’s there.
Dividend feed items are ‘next up’ on the roadmap.
We’re really keen to add DRIP but we’re still a relatively small team & we’re focusing on some of the other ‘must haves’ for now. We’ll add them to the roadmap as soon as they’re on the way.
Great! Thanks for your prompt response. You’re working hard.
Will there likely be a cost for dividend re-investment or will it be free for alpha and charged for basic?
We’ll share more details about any pricing when we get closer to launching Drip. It’s not on the roadmap yet.