Sharedealing corporate actions

A corporate action is an event undertaken by a company distributing cash, stock or a combination of both to shareholders in proportion to their holdings or which changes the nature or description of a company's stock. Common examples are dividends and rights issues.

We will advise you by post that a corporate action requires your attention and ask you to instruct us by the relevant deadline. To access the online form select 'products & services', click on 'corporate actions' then select the appropriate form. To complete this form you will need to refer to the details in the letter we will have sent you.

During the registration process, you will be required to select how you want to receive dividends - either in cash or where appropriate, as shares.

Any dividends paid into an ISA will only be paid in cash. There is no shares alternative.

Dividends paid in cash will be credited to your settlement account and moved to your nominated first direct account overnight.

Dividends paid in shares will credit your investment account on the dividend date.

Dividends paid in cash into the ISA will show in the respective settlement account and be available to invest.

No. first direct do not offer DRIPs and your standing instruction will only apply where a company is offering a Scrip Dividend option. A Scrip dividend is a distribution by a company in shares or a contribution of shares and cash.

No. Following the end of each Tax Year we will send you a Consolidated Tax Certificate. This will list all dividends that you have received during that Tax Year.

This certificate will not include dividends received on investments held in an ISA.