If you are new to investing and want to participate in your holdings Dividend Reinvestment Plan (DRP) then this post is for you.
When I first dipped my feet into shares I had absolutely no idea how to do anything. Taking the step to buy shares in the first place took me long enough. Once I bought my first shares I wanted to participate in the holdings DRP, and have my dividend income automatically invested in buying more shares.
If you don’t know what a DRP is that is 110% okay. I’ve got a really quick write up on what a DRP is, and why I’m a big fan right here ‘What is a Dividend Reinvestment Plan’.
Do you have a Computershare Account?
When you purchased your first shares you may have been sent information from your broker recommending you to register a Computershare Account.
Your broker may have even set up an account already for you – so double check your emails.
You will need to have a Computershare Account to set up your DRP.
What is Computershare?
Computershare provides share registration services including transfer of shares, tax reports, dividend income reports, and the ability to update how and where you would like your dividend income to be paid.
How to opt into the Dividend Reinvestment Plan (DRP)?
Opting into a DRP is quite straight forward once you’ve set up your Computershare Account.
- Simply log onto your Computershare Account
- Select My Profile from the top right menu (see screenshot below)
- Then select the share holding you want to update the dividend redistribution for (see screenshot below)
- A sub menu will then pop up. Select Amend and then follow the prompts to make your desired selection.
- Once you’ve made your selection make sure it’s saved correctly, and then pop your feet up and congratulate yourself for a job well done.
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