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.
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.