Automatic Dividend Reinvestment without DRP
complete
Emma
It would be great to be able to have our dividends pulled into Pearler automatically and re-invested using auto invest. A way I could see this working is by doing the following:
- Have the share registry deposit dividends into the same bank our autoinvest payments comes out of.
- Pearler calculates or sees the dollar amount of dividends that got paid out to that account
- Next time an autoinvest transactions is made, Pearler adds that amount on top and also direct debits it alongside the regular payment.
That way our dividends are reinvested in a similar way to DRP. But without all the capital gains cost basis headaches.
I planned to just manually deposit the dividends into Pearler every quarter. But if there's a way to automate that process it would be fantastic. 👍
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An alternative and simpler method be for Pearler to provide a BSB and account number for us to tell the share registry to deposit into. And then that gets added to our balance.
Hayden Smith
complete
https://pearler.com/settings/account/shares/asx
You can automatically send dividends into autoinvest cash now
Christie
Hayden Smith: Hey Hayden, I’m so excited to try this one - thanks! Just wondering how the function detects something is a dividend payment and whether it would work if we have dividends from shares we hold with another broker/ or portfolio deposited into our Pearler cash account? Or is it just picking up the dividends from the shares we hold in the particular Pearler portfolio. Thanks so much ☺️
JULIAN FERGUSON
This would be super handy. I have dividends going into my Pearler Cash account, but then have to manually transfer them to Auto-Invest. It would be great if they could go directly into the auto-invest account (or there was a way to automate transfers from Pearler Cash, to Auto-Invest).
Hayden Smith
under review
Stephanie English
This sounds like DRP, but using Auto Invest?
- You can already setup your Dividend Payouts with each indiviual share, paying into your Pearler Account using your Direct Deposit Pearler Bank Account:
- Setup Auto Invest from this despoit
David Vandenberg
How do dividends currently get distributed?
On my BT Panorama platform, dividends either go into the cash account or get reinvested, with the option to select cash or reinvest for each individual stock / fund.
T
Tres West
Yep. Any DRP would be great.