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Dividends & DRIP


What is a dividend?

A dividend is a payment made by a corporation to its shareholders, typically as a distribution of profits. It can be issued in cash or as additional shares of stock. Dividends are usually paid on a regular basis, such as quarterly, and can provide a source of income for investors.


When do I need to buy the stock to be entitled to a dividend?

To be entitled to a dividend, you typically need to purchase the stock before the ex-dividend date. The ex-dividend date is usually set one business day before the record date, which is when the company checks its records to determine who will receive the dividend. If you buy the stock on or after the ex-dividend date, you will not receive the upcoming dividend payment.


When will my dividend be credited to my account?

Dividends will be credited to shareholders of record 1-2 business days after the payment date. To view your dividend payment, please use the following instructions:


App:

  1. Navigate to Account.
  2. Tap the History tab.
  3. Select the dropdown filter and tap Dividend Records.

Desktop:

  1. Navigate to Account (if hidden, click More).
  2. Within the Banking widget, click the dropdown filter right of Type.
  3. Select Dividends.

What is DRIP and how does it work?

The Dividend Reinvestment Plan (DRIP) offered by Webull allows eligible clients to automatically reinvest dividends they receive from their portfolio holdings into additional shares of the same security. Under DRIP, Webull will reinvest eligible cash dividends and certain other cash distributions for eligible securities in your account.


You can choose to apply DRIP to all eligible securities in your account or select specific stocks for automatic reinvestment. Securities not selected for DRIP will not be included in the service. Purchases under the DRIP are made through open market transactions, typically on the first trading day after you receive a DRIP-eligible dividend for that security.


Is it free to participate in DRIP?

Yes, there is no additional fee to participate in DRIP.


Am I eligible to participate in the Plan?

Eligibility for DRIP is limited to Omnibus accounts. Apex individual accounts and advisor accounts are not eligible for DRIP. To check if your account is under an Apex clearing arrangement or Webull Omnibus arrangement, please click here or visit the in-app Help Center after logging in and tap on Menu ➝ Account Conversion Status.


Can I apply DRIP to any security?

You can identify eligible securities by the green diamond icon on the stock quote page. Webull reserves the right to determine or change the eligibility of a security for DRIP at any time without prior notice.


How do I enroll or opt-out of DRIP?

Please use the following instruction to enroll, unenroll, or modify DRIP preferences:


App:

  1. Tap the Webull logo to select your account.
  2. Select Account Management (top-right corner).
  3. Select Dividend Reinvestment Program.
  4. Choose to enroll, opt-out, or modify your selected securities.

Note, both enrollment and opt-out requests are processed within one business day. Adding or removing securities from DRIP takes up to 5 business days to take effect.


Why was my cash dividend not reinvested?

There are several reasons why your cash dividend may not have been reinvested:


  1. The cash distribution must be more than $1 and sufficient to purchase at least 0.00001 shares of the same security. Otherwise, it will be added to your cash balance.
  2. Not all cash distributions are eligible for DRIP. Cash-in-lieu payments and certain special dividend payments cannot be automatically reinvested.
  3. Your request to change your DRIP status may not have been processed yet. It typically takes around 5 business days for requests to add individual stocks to DRIP to be completed.

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