Aug 1 2020, 01:12 PM
Where do I look for the dividend payout option?
I could not find it in website/app.
QUOTE
Yes, you can change the dividend payment method for your cash investments (unit trust only) via the following ways:
a) Via View Holdings page: My Account > Investment Holdings > Under "Interest Income / Dividend Payment Method" > Click on button and select your preferred dividend methods from the list > Click on ‘Save’ button.
b) Upon placing buy order online: Go to "Place Orders" > Select funds under "What do you wish to buy?" to purchase and you will be able to select your preferred dividend method online during the purchase.
Also which option should I choose?a) Via View Holdings page: My Account > Investment Holdings > Under "Interest Income / Dividend Payment Method" > Click on button and select your preferred dividend methods from the list > Click on ‘Save’ button.
b) Upon placing buy order online: Go to "Place Orders" > Select funds under "What do you wish to buy?" to purchase and you will be able to select your preferred dividend method online during the purchase.
I assume option 1 is the best as there is no service charge.
QUOTE
The default of dividend payment methods is pre-determined by FSMOne.
For Cash investments, there are 3 types of dividend payment methods:
1) Reinvest: The dividends will be reinvested in the form of additional units in your relevant holding.
It will reflect under your historical transactions as a purchase, hence you will see additional units in your fund holdings.
You will also receive an online statement via email with regards to the transaction.
All dividend reinvestment will not result in an increase in the cost of investment. The rationale for doing so is that dividend is not an injection of new monies by the investors as such it should not increase the cost of investment. By not reducing the cost, the weighted average cost as a result decreases with every dividend reinvestment.
2) Cash Payout: The dividend will be issued in the form of SGD denominated cheque and credit into your designated bank account, or mail to you if you do not have a local bank account, if the relevant fund's terms and conditions specify or permit the payout of dividends.
Note: For dividend amount below SGD10, USD10, EUR10, AUD10, GBP10, CHF10, NZD10, HKD50, CNH50, the dividend will be credited into method 3) below.
3) Deposit into Cash Account:
If you did not opt in to Auto-Sweep, the dividends will be deposited into your FSM Cash Account in accordance to the fund currency upon payout.
If you opted in to Auto-Sweep Account, your dividend in SGD will be automatically invested in Auto-Sweep Account ONE business day after you received it. Non-SGD dividend will still be credited into the respective Cash Account.
For Cash investments, there are 3 types of dividend payment methods:
1) Reinvest: The dividends will be reinvested in the form of additional units in your relevant holding.
It will reflect under your historical transactions as a purchase, hence you will see additional units in your fund holdings.
You will also receive an online statement via email with regards to the transaction.
All dividend reinvestment will not result in an increase in the cost of investment. The rationale for doing so is that dividend is not an injection of new monies by the investors as such it should not increase the cost of investment. By not reducing the cost, the weighted average cost as a result decreases with every dividend reinvestment.
2) Cash Payout: The dividend will be issued in the form of SGD denominated cheque and credit into your designated bank account, or mail to you if you do not have a local bank account, if the relevant fund's terms and conditions specify or permit the payout of dividends.
Note: For dividend amount below SGD10, USD10, EUR10, AUD10, GBP10, CHF10, NZD10, HKD50, CNH50, the dividend will be credited into method 3) below.
3) Deposit into Cash Account:
If you did not opt in to Auto-Sweep, the dividends will be deposited into your FSM Cash Account in accordance to the fund currency upon payout.
If you opted in to Auto-Sweep Account, your dividend in SGD will be automatically invested in Auto-Sweep Account ONE business day after you received it. Non-SGD dividend will still be credited into the respective Cash Account.
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