What happens to dividends in a plum isa?
I believe they are reinvested. If you tap on your profile icon (top left of the app) then Documents, then key features, then plum ISA - the details are in there. It states any income from investments is reinvested and not available to take as income.
Excellent answer. Thanks.
Hey there @Stephen
Plum doesn’t offer income-based mutual funds, any dividends paid out by the stocks held in the mutual fund will be re-invested. They’re reflected in the size of the fund and, consequently, the unit price.
This is process is handled by the relevant Fund Manager - any reinvestment is reflected on the growth of the unit price
Please note that the Fund Managers do not provide such reports for accumulation funds.
So, I’m afraid that no dividends are paid out to customers directly.
Let me know if I can help with anything else
Sounds a bit like Standard Life’s DRIP (dividend reinvestment plan).
I also thought I’d read somewhere on the forum that dividends, when they happen, are paid into the Primary Pocket. I’m happy that they’re reinvested. It’d be nice to know of dividends received.
Hey there @Stephen , let me add another detail regarding dividends. In the Mutual Funds they will be re-invested and in Stocks, they are credited to the user’s Primary Pocket!