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Question

How do I change my dividend option?

Answer

The Dividend payment option is chosen at the account opening stage. However, you may change your Dividend payment option at any time by contacting our Client Service Team on 0800 279 6551 / 0141 352 3909.

Instructions to change your Dividend payment options must be given ten days before an ex-dividend date in order to take effect.

Should you change your Dividend payment option, please note this will apply to all of the holdings within your account (e.g. you cannot ask us to accept cash dividends for one stock in your account, and SCRIP dividends for another holding).

You may receive your Dividend payments in one of the following ways:

Automatic Dividend Reinvestment (ADR) - The Automatic Dividend Reinvestment (ADR) service allows you to elect to reinvest dividends from CREST eligible UK equities in the stock which the dividend comes from. The ADR service cannot be specified for individual holdings, it is applied to all holdings in your account. Please note you will receive a Contract Note once the ADR is actioned. Please also note ADR will only take place if SCRIP not available.

Cash - A cash dividend is a proportion of a company's profit paid out to shareholders, usually twice a year - as an interim and then a final dividend. This is paid either onto your portfolio as cash, or to your external bank account if you have provided us with these details. Dividends can only be paid to an external bank account in your name, and only if a Direct Debit Instruction is in place on your portfolio.

Scrip Dividend - A scrip dividend is when a company gives the option to receive additional ordinary shares instead of the cash dividend.

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