Standard Life- Dividend ReInvestment Plan

[Delboy]

Hi,

I've a with-profit fund with Std Life that enabled me to become a member last year on their demutualisation. They recently announced a dividend on the shares I got for been a member but I'm not interested in receiving cash for them and would rather invest the small amount due back in their DRIP option.
Does anyone know if Irish residents are legally allowed to do this. I've checked with their customer service and got no definite answer back.

thanks

 

[philips]

I presume Irish residents are allowed to do this since on page 20 of the booklet entitled "This is" under heading UK, Ireland and Canada it states:-

"You should include the dividend in your tax return in the normal way"

 

[z108]

I signed up for it anyway because I wanted to. Im not an expert so dont take my opinon on this as fact.
My view is we are legally allowed hold shares in the company hence the distribution of shares at demutualisation. So I see no legal reason why we cannot sign up for the DRIP scheme and have our dividends which belong to us used to buy more shares. Its the exact same as the Vodafone DRIP scheme.
If you apply for it and they allow you to avail of this then your only obligation is to the taxman to let him know your taxable affairs.