Scrip dividends refer to dividends that you chose to take as shares instead of cash. StocksCafe lets you tag these transactions so that you can easily keep track.
Recommended method – Tagging transactions as Scrip
- From the collected dividends tab, under the “Scrip” column, click on Create. lt will bring you to the new transaction page and some fields are automatically filled out for you.
- Fill in the fields that are not automatically filled out (in bold below)
Action = Buy
Add to Cash Transactions = Checked
Reason: You will receive the dividends in cash transactions and hence should check this so that your cash balance will balance out
Scrip Dividend = Checked
Reason: To indicate that this is a scrip dividend transaction
StockCode = The company/stock that is issuing the shares
Date = ExDate of the dividend
Reason: It is important to set this to the ExDate so that StocksCafe knows which dividend this scrip dividend corresponds to
Portfolio = The portfolio that would have received the cash dividend if you did not opt for shares
Reason: It it important to set this correctly. Again, this is so that StocksCafe knows which dividend this scrip dividend corresponds to.
Units Purchased/Sold = Shares that you will receive
Price Paid/Received = Total amount that you would receive if you have chosen cash / Shares you will receive
Currency = Currency in which the amount the dividend is given in (leave it blank if the trading currency is same as dividend currency)
Fees = 0 (you can just leave it blank since it defaults to 0)
Total = Total amount that you would have received if you have chosen cash (or leave it blank as it would be auto-computed as Units x Price)
Reason: It is important to ensure that it is the same as you would have received if you have chosen cash as it is how StocksCafe know how much dividends you have re-invested.