When a company pays a dividend, you can elect to receive it in cash or to have the dividend automatically reinvested on your behalf into more shares in that company. Not all funds or companies pay dividends, and not all companies or funds off dividend reinvestment.
How to Receive Your Dividends as Cash
You will need to provide the share registry with your bank details so that they know where to deposit the money. SelfWealth does not manage dividends, you will need to speak to the share registry directly.
How to Automatically Reinvest Your Dividends
A Dividend Reinvestment Plan (DRP) instructs a company or share registry to reinvest any dividends paid to, the shareholder, as new shares. If you wish to participate in DRP you will need to contact the share registry that manages your stocks and register for DRP participation.
When this happens, the share registry will advise SelfWealth that you have more shares or units and your SelfWealth account will update to reflect this. This can take up to one week for them to filter through and is not within SelfWealth's control.