Can I get scrip dividends for holdings in a Freetrade ISA? It doesn’t seem to be possible.
Any ideas or workarounds?
Reinvest the cash in new shares when paid out. You don’t get taxed on an ISA and there are no dealing fees so there’s effectively no difference
Annoyingly, I have compliance issues in my job so that isn’t always possible.
You can get a CSV file from Freetrade if you email them. That should probably have your dividend info on it.
Will they even allow you to use Freetrade in that case?
I actually just consider dividends and top ups as one pool of cash that I use to regularly buy with. I buy whatever I need to follow my target allocations - which could be the same as the dividend payer or it could be something else.
I have the same/similar compliance problem as @blahblahblah and no way am I going through the preapproval process to reinvest a small dividend in a stock (it’s just not worth the effort) so I only buy ETFs in this way.
I’m not sure how a SCRIP dividend would help in that regard, if I have 100 shares listed in the compliance system and my holding grows to 101 (because of a dividend) they might look at it as a unapproved transaction when they see the discrepancy and no approved trades.
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Yeah, that’s fine. Essentially, I can’t buy single-name company shares (as opposed to funds/trusts). The only exception is scrip dividends for holdings owned before I joined the company.
I’d also say scrip dividends are easier for users than having to manually buy more shares every time there is a payout.
Scrip dividends would be nice to have.
Another advantage of scrip div is when some companies pay a much bigger scrip amount than cash dividend.
The latest HMSO dividend is one example of that.
What services are people here currently using to make use of scrip based dividends?
Do we know if FT allow the re-registration of shares?
My other broker charges me £15 to have the shares re-registered in my name
then I can apply for the Script dividend
No. Nominee account only see T&C.