Orchestra has released a dividend module to streamline calculating dividend distributions and creating dividend reports. This feature is in beta mode and further development is planned. Please let us know if you would like to contribute to the development of this feature by sharing with us the challenges that your company experiences when managing dividends.
- Guided dividend creation tool.
- Automatically pull-down a live version shareholder list, and allocate dividends based on share class.
- Custom field collection of IRD numbers for dividend-qualifying investors.
- Custom field collection of bank account details for dividend payouts.
- Generated PDF dividend statement, which is filed away against and is accessible by the shareholder (coming in future).
- Exportable IRD-compatible CSV report for dividend filing (coming in future).
Creating a new dividend distribution
- Select a title to name this distribution: "Eg. Q4 2021 Dividend Distribution". This is used as an internal identifier and is included as part of the generated dividend statement.
- Select share class(es) that are eligible for the dividend distribution. Please ensure your share register is up-to-date before creating a new distribution.
- Identify your calculated dividend payout, imputation credits and the withholding tax rate you want applied across all your investors. Future enhancements will allow you to add the investors' self declared tax rate, and whether they're exempt from RWT.
- Once saved and published, an overview of the distribution for participating shareholders is saved in the "Dividend reports" section.
You can save dividend distributions as drafts and delete them. This allows you to test distributions and then remove them if required.
Downloading dividend reports (coming in future)
Dividend reports are generated once a distribution has been published. Future enhancements will enable you to download reports as csv files containing shareholder information that has been customised (e.g, RWT tax rates or exemptions specific to each shareholder).