Marks & Spencers shares platform transfer

explorerm
explorerm Posts: 49
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edited 21 January at 12:06PM in Savings & investments
Hello,

I have fairly recently transferred all my Marks & Spencer shares to my Fidelity (GIA). I've held the shares probably 2o+ years with Equinti Shareview and dividends have been used to purchase further M&S shares (through the Dividend Reinvestment Plan)

My question is what will now happen to the future dividends? Will I receive the dividends into my Fidelity GIA or will they continue to buy new shares ? Will I see these additional shares in my Fidelity account? 

Thank you in advance 

Comments

  • eskbanker
    eskbanker Posts: 29,973
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    I believe that you have to nominate your choice of dividend handling with Fidelity, they do offer reinvestment if that's what you choose.
  • ColdIron
    ColdIron Posts: 8,692
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    Most platforms provide standing instructions regarding dividends, With Fidelity, in common with the majority, they are:
    • Paid out to your bank account
    • Paid out as cash within your Fidelity account
    • Reinvested within the same stock - a charge of £1.50 is applicable
    Somewhere in your account settings you will be able to choose your standing instruction
    You should see the dividends in your transaction statements and certainly in your annual tax certificate. You should keep that as it's required for tax reporting
  • explorerm
    explorerm Posts: 49
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    edited 21 January at 2:30PM
    @eskbanker and @ColdIron thank you both for your replies, much appreciated. 
    I have now found the dividends paid into Fidelity. I was a bit confused also because I've received a couple of emails from Equinti Shareview regarding my latest Dividend Reinvestment Plan. 
    However the dividends have been paid into Fidelity as cash. 
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