Receiving a dividend often prompts people to look at their shares for the first time in years.
In many cases, these shares are inherited, issued through an employee scheme, or simply forgotten over time.
Once the payment arrives, the next question is usually: Do you keep the shares, or sell them?
If you decide to sell your shares, Unbroker provides a simple way to sell your issuer-sponsored shares without opening a trading account.
What Is a Dividend?
A dividend is a payment made by a company to its shareholders.
If you own shares, you own a small part of that company. When the company makes a profit, it may choose to distribute some of that profit to shareholders as a dividend.
Dividends are usually paid:
- Directly into your nominated bank account, or
- As additional shares (if you’re part of a dividend reinvestment plan)
What Are Your Options After Receiving a Dividend?
Once you’ve received a dividend, you generally have three options:
- Keep Your Shares
You can simply do nothing. If you’re happy to continue owning the shares, you’ll remain eligible for future dividends (if the company continues to pay them).
- Reinvest
Some people choose to reinvest dividends by purchasing more shares.
This is usually done through a Dividend Reinvestment Plan (DRP), if the company offers one. If you haven’t set this up already, your dividend will typically be paid as cash.
- Sell Your Shares
If you don’t want to keep the shares, you can choose to sell them.
This is very common, especially if:
- You inherited the shares
- You didn’t intentionally invest
- You’d prefer the cash instead
You don’t need to keep the shares just because they paid a dividend.
Should You Wait for a Dividend Before Selling?
In most cases, no.
If you’re thinking about selling your shares, there’s usually no strong financial reason to delay just to receive a dividend.
It’s important to understand that when a dividend is paid, the share price usually adjusts down by roughly the same amount. This means:
- You receive cash (the dividend), but
- The value of your shares typically decreases by a similar amount
So receiving a dividend doesn’t necessarily make you better off overall – it’s simply a different form of value.
Once a share goes “ex-dividend,” you can sell it and still receive the upcoming dividend anyway.
For most people, the decision should be based on whether you want to keep or sell the shares – not on trying to time dividend payments.
How to Sell my Issuer-Sponsored Shares
If you decide to sell your shares, Unbroker provides a straightforward way to do this.
Step 1: Locate Your Shareholding Details
You’ll need your Security Reference Number (SRN) or holding details.
These details can be found on dividend statements, holding statements, or registry communications.
If you need help retrieving your SRN, we may be able to assist here.
Important: We can only assist with issuer-sponsored shares (SRN holdings).
If your shares are CHESS-sponsored (HIN), you will need to contact the broker that purchased the shares to sell them.
Step 2: Complete the Sale Process
With Unbroker, you can sell issuer-sponsored shares without opening a trading account.
Simply:
- Complete the online sale form
- Upload any supporting documents (if required)
- Submit securely
If anything is missing, our team will contact you to help keep things moving.
Step 3: Verify Your Identity
ID verification is completed using our 100-point verification process. More information on our ID verification process can be found here.
Step 4: Shares Are Sold and Funds Paid
Once approved:
- Shares are sold within 1 business day
- Funds are transferred after settlement
Ready to Sell Your Shares?
Receiving a dividend is often the point where people decide whether to keep or sell their shares.
If you’ve decided you’d prefer cash instead of holding shares, you can sell your issuer-sponsored shares quickly and securely with Unbroker.
- No trading account required
- Fully online process
- Fast turnaround
- Secure and compliant
Frequently Asked Questions
Yes — if your shares are issuer-sponsored and registered in your personal name, you can sell them online without opening a trading account. For more information, click here.
Yes — shares registered in joint names can be sold online through Unbroker, as long as both shareholders complete the ID verification process. For more information on how to sell your joint holdings, click here.
100 points of ID is a document-based identity check used in Australia. You’ll need to provide certified copies of documents—like a passport, licence, or utility bill—that add up to 100 points. For more information on 100 points of ID click here.
If your shares are issuer-sponsored and you have the SRN, you can sell them quickly online using Unbroker—no trading account required. To learn more about selling issuer-sponsored shares in Australia, click here.
Yes — if your shares are issuer-sponsored, you can sell them online through Unbroker without opening a trading account or using a full-service broker. For a quick guide to selling shares with Unbroker, click here.
Yes — if you're acting under a valid Power of Attorney, you can sell issuer-sponsored shares through Unbroker by providing the required documents and ID. To find out what’s required when selling shares under a Power of Attorney, click here.
An SRN identifies shares held directly with a share registry, while a HIN is used for shares held through a broker. Unbroker can only sell shares registered with an SRN. To learn more about the difference between an SRN and a HIN, click here.
Yes — if you’re acting as an executor or legal representative for an Estate, you can sell issuer-sponsored shares through Unbroker by providing the required estate documents and ID. For more information on selling shares belonging to an estate, click here.
That’s fine — both shareholders can authorise the funds to be paid into one person's account using a signed authority form provided by Unbroker.
A one-off share sale lets you sell issuer-sponsored shares without opening a trading account or using a full-service broker — perfect for casual or one-time sellers.
Unbroker specialises in one-off share sales — no trading account, no upsells, and no ongoing fees. We're built for people who just want to sell and move on. For a detailed comparison, click here.
Most share sales settle within one to three business days — including ID verification, trade execution, and payment. Unbroker offers same-day sale and settlement, enabling you to receive your funds one business day after the sale. For more information on sales and settlement timelines, click here.
Yes — if you have your SRN and ID, you can sell issuer-sponsored shares through Unbroker without logging into the registry. Click here for more information.
Yes — if the shares are registered in the company’s name, they can be sold through Unbroker with the proper documentation and ASIC verification. Click here to see our full guide on selling shares held company.
Yes — if the shares are registered in the name of your trust or SMSF, you can sell them through Unbroker by providing the deed, trustees ID and any supporting documents. To learn more, see our full guide on selling shares held by a family trust or SMSF here.
Yes — if your ESS shares are issuer-sponsored and registered in your name, you can sell them through Unbroker without needing a trading account. For more information on selling shares from an ESS, click here.
Yes — as an overseas resident, you can sell issuer-sponsored shares through Unbroker by posting original certified ID. For more information on our international ID requirements, click here.
We’re required by law to verify the identity of each registered shareholder before processing a sale — it helps prevent fraud and ensures compliance with ASIC and anti-money laundering regulations. For more information on ID verification, click here.
Your SRN is usually found on a holding statement or letter from the share registry — it’s required to sell issuer-sponsored shares through Unbroker. For more information about what an SRN is, click here.
Yes, it’s still possible to sell shares if you can’t find your SRN. In many cases, Unbroker can retrieve your SRN for you and handle the sale process without needing to contact the registry. For more information, click here.
Yes — as long as you're using a licensed and compliant provider like Unbroker. We verify all sales, protect your information, and never ask for upfront payments. For more details on how Unbroker keeps your transactions secure, click here.
Yes — as a parent or legal guardian, you can authorise the sale of shares held by a minor by providing certified ID and signing an authority form.
Yes — as long as your IPO shares are issuer-sponsored and no longer subject to escrow, you can sell them through Unbroker without needing a trading account. To get started today, click here.
If you’ve lost your holding statement, you’ll need to contact the share registry to request a replacement. Once you have your SRN, you can sell your shares through Unbroker.
Yes — as long as you can provide certified evidence of the name change (e.g. marriage certificate or name change certificate), Unbroker can help process your share sale. For more information, see our full guide on selling shares when your name has changed here.
Funds are paid one business day after settlement.
Depending on whether you choose Same Day Sale & Settlement or Standard settlement, you’ll receive your money within 1–3 business days. For more information, click here.
Yes — you don’t need a TFN to sell your shares through Unbroker.
However, if no TFN is recorded on your shareholding, the registry may withhold tax from any dividends you’ve received. This doesn’t affect the sale itself.
If the shareholder can’t sign, someone else may be authorised to act under a valid Power of Attorney or court order. We’ll need certified documents confirming their authority before we can proceed. To find out what’s required when selling shares under a Power of Attorney, click here.
Yes — shares registered with an account designation can be sold through Unbroker, provided the authorised person completes the required verification process. Click here to learn how the process works.
