Hargreaves Lansdown cuts dividend charge
Hargreaves Lansdown has lowered charges for savers who re-invest dividend payments 
Photograph: Hargreaves Lansdown
Britain’s biggest broker, Hargreaves Lansdown, has cut fees it applies to clients who re-invest share and fund dividends.
The charges remain the very same at 1pc, but the minimal and greatest costs levied have slashed from £10 to £50, to £1 to £10.
So a saver who re-invests £5,000 of dividends will now pay £10 to Hargreaves Lansdown when the money is invested buying more shares of the same stock. Underneath the outdated pricing model the identical saver would have paid £50.
Danny Cox, head of advice at Hargreaves Lansdown, stated the cost change has been produced in response to “client feedback”.
Dividends can be re-invested from as small as £10. Previously Hargreaves Lansdown buyers could only re-invest dividends well worth £200 or far more.
Other fund stores provide dividend rei-investment at equivalent rates. Interactive investor levies a maximum £10 charge, even though Alliance Trust Cost savings applies a £5 charge.