How to Track Your DRIP: A Guide to Simplify Dividend Reinvestment
Dividend reinvestment is a powerful wealth-building tool that allows investors to compound their returns by automatically reinvesting their dividends back into the stock. However, tracking dividend reinvestment plans (DRIPs) can be challenging due to the limited capabilities of most portfolio trackers available in the market. As a result, many investors struggle to monitor their DRIPs accurately and effectively.
DRIP tracking coming to dividend.watch
To address this issue, we at Dividend.watch are excited to announce the release of our new DRIP tracking feature. This functionality allows you to mark dividends as reinvested directly within our platform. Furthermore, you can designate an entire holding as a DRIP, which will automatically mark all dividend payments for that holding as reinvested. The platform provides the flexibility to adjust the number of shares and cash received, ensuring that your reinvestment data remains accurate.
How to mark dividends as reinvested?
You can easily make adjustments to dividend payments by navigating to the holding detail or by visiting dividends overview section, and clicking on the three dots on the right side of each payment entry. Once you have marked a dividend as reinvested, the platform will automatically add the corresponding shares as transactions to your holding. Additionally, your dividend income prediction will be immediately updated to reflect the new data, ensuring that you have an accurate and up-to-date view of your investment performance.
How to get access to reinvesting feature
Our DRIP tracking feature is part of Dividend.watch's Pro plan, which includes unlimited portfolio tracking (with unlimited portfolios, holdings, and transactions). This plan is designed to help investors like you gain the insights and tools necessary to optimize your dividend investing strategy. To learn more and experience the benefits of our DRIP tracking feature, check out our portfolio tracker and start simplifying your dividend reinvestment process today.
