We have a special place on the website to set your dividend reinvestment preferences. You can choose to either reinvest dividend payments into more stock (automatically), or have the cash payment go into your cash balance.
Just follow the instructions below to get started:
- Click on Accounts > Portfolio > Dividend Reinvestment (sign in required)
- Click Edit next to a security to make changes to its reinvestment settings. Click Edit all if you want to make changes to the reinvestment settings for all of your securities
- Click Save to save your preferences
Tip: You'll not receive a trade confirmation when dividends are reinvested, but the dividend reinvestment will take place on the payable date at the previous day's closing price. Also, dividend reinvestments are noted with DVR in the 'Action' column of your account's Transaction History.