All dividends for your US Stocks will be paid in cash directly into your USD Cash Account with SelfWealth. Due to the processing time, there may be delays in receiving your dividend payments from what the company discloses in its announcements.
All dividends paid are subject to 15% withholding tax.
A small processing fee is also applied to US dividends. The fee is distributed across all holders of that stock, therefore is not a fixed percentage or dollar amount.
Can I choose for my US dividends to be reinvested?
No, all dividends will be paid in cash to your USD Cash Account. Once the dividend is paid to your USD Account you can choose to purchase additional securities in your US security holding.
As per the ownership structure with US trading at SelfWealth, your US Cash balance will be held in custody by our custodian. Phillip Securities Pte Ltd will distribute the funds to your USD Cash Account as the beneficial owner.