Dividends

If a customer owns a security that pays a dividend, DriveWealth will create a new transaction in the customers account for the amount owed. Customers that hold fractional shares will also receive a pro rata dividend.

For each dividend DriveWealth provides information in regards to the type of dividend, the amount, and tax status of that dividend. You can view our Transaction Event API for additional details.

When a dividend is credited to the customer account you will receive the following transactions.created event:

{
  "id": "event_a1acdf71-17d2-4e38-81ce-871a86374b40",
  "type": "transactions.created",
  "timestamp": "2019-04-05T19:25:14.711707573Z",
  "payload": {
        "accountID": "b25f0d36-b4e4-41f8-b3d9-9249e46402cd.1491330741850",
        "accountNo": "DWEF000010",
        "userID": "b25f0d36-b4e4-41f8-b3d9-9249e46402cd",
        "transaction": {
            "accountAmount": 2.29,
            "accountBalance": 128195.27,
            "comment": "BPY dividend, $0.3043/share",
            "finTranID": "GF.861e931d-e7aa-47c8-b87a-b1e55acf3862",
            "wlpFinTranTypeID": "e8ff5103-ad40-4ed9-b2ee-fd96826bf935",
            "finTranTypeID": "DIV",
            "feeSec": 0,
            "feeTaf": 0,
            "feeBase": 0,
            "feeXtraShares": 0,
            "feeExchange": 0,
            "instrument": {
                "id": "476b40ee-3ff9-46af-85af-fec572d13d23",
                "symbol": "BPY",
                "name": "Brookfield Property Partners L.P."
            },
            "dividend": {
                "type": "CASH",
                "amountPerShare": 0.3043,
                "taxCode": "NON_TAXABLE"
    }
  }
}

For customer that are non-US taxpaying individuals there will be an additional transaction created for the withholding of the dividend at the appropriate rate.