You sure can. Even better, we do it for free!
If a company issues a cash dividend, it will normally show up as cold, hard cash in your Stockpile account.
For example, if you own half a share of stock and the company issues a cash dividend of $4 per share, you’ll receive $2 of cash in your account.
At Stockpile, you have the option to reinvest your dividends — in other words, you can plow them back into your stock so you own more shares, and we don’t charge you a trading commission.
To sign up for “dividend reinvestment” in your account, you’ll need to own at least one stock in the account (any number of shares is fine).
Once you do, all you have to do is log in, go to your Profile, and enable the green “dividend reinvestment” slider.
(You’ll need to do this on your computer for now, but soon, you’ll be able to do it on the app too!)
Once you’re signed up for dividend reinvestment, you’ll see your number of shares go up every time a company issues a dividend.
And it’ll happen automatically for all the stocks you own, free of charge (except, of course, for any companies that have already announced dividends for the current quarter).
If you have multiple accounts, you can do this for any or all of the accounts.