If a company issues a cash dividend, it will normally show up as cold, hard cash in your Stockpile account.
At Stockpile, you have the option to reinvest your dividends — in other words, you can plow them back into your stock so you own more shares, and we don't charge you a trading commission.
To sign up for dividend reinvestment in your account, you'll need to own at least one stock in the account (any number of shares is fine). Please also note that you must turn on reinvesting before the stock EX-date in order to have your dividend reinvested.
- Open the sidebar menu
- Tap on Account
- Turn on Reinvest Dividends
- Congrats you are all set!
Once you're signed up for dividend reinvestment, you'll see your number of shares go up every time a company issues a dividend. And it'll happen automatically for all the stocks you own, free of charge (except, of course, for any companies that have already announced dividends for the current quarter).
If you have multiple accounts, you can do this for any or all of the accounts.
Pretty awesome, huh?