A dividend for an omnibus fund/share class, distributed either as cash or reinvestment to investors subscribed to the fund.
Dividends are scoped per lotId, not by investor accountId. An investor may have multiple lots at the same fund (e.g. multiple subscriptions to a fund made at different times) which will each receive a separate prorated dividend.
Depending on the election of the lot, dividends will either result in a cash distribution, managed by financial institutions, or reinvestment into the fund via DRIP (Dividend ReInvestment Plan). These DRIP reinvestments mint a new lot, which can be referenced by reinvestedLotId. Like buy/sell orders, the dividend amount type is notionalAmount/ quantity for cash/DRIP dividends.
When a dividend event occurs, a webhook event is issued for each new dividend.
The dividend amount is evaluated based on pricePerShare. For a DRIP dividend, costBasisPerShare is the tax basis for the reinvested lot.
A dividend event has three relevant times: recordDate, which is the cutoff date for subscriptions that qualify for the dividend, the payableDate, which is the date of dividend distribution, and issuedAt , the exact time that the dividend event was received.
Dividend can be queried on demand through the /dividends API, with filters available for fund, share class, record/payable date, etc. as well as by their ID.