How are dividends on non-leveraged and leveraged US stocks calculated on Pluang?
The dividend you receive on a US stock on Pluang is the gross dividend per share announced by the company, multiplied by the shares you held on the cum date, minus withholding tax. The figure a company announces is always gross, meaning before tax. How much tax is withheld depends on how you hold the stock: 15% for non-leveraged positions, under the US–Indonesia tax treaty (P3B), and 30% for 2x leveraged positions. 4x Day Trade positions are not eligible for dividends at all, because they cannot be held overnight. For example, if AAPL pays US$1 per share and you held 10 non-leveraged shares on the cum date, you receive US$1 × 10 × (1 − 0.15) = US$8.50. The tax is deducted at source, before the dividend reaches your account, and dividends are typically credited D+1 after the payable date, or up to D+7 in some cases.
Dividend rules by position type
| Position type | Withholding tax | Eligibility |
|---|---|---|
| Non-leveraged | 15% | Paid when the net dividend is more than US$0.01 |
| 2x leverage | 30% | Paid when you held at least 0.1 shares on the cum date |
| 4x Day Trade | — | Not eligible, because the position cannot be held overnight |
Formula: Net dividend = dividend per share × shares held on the cum date × (1 − withholding tax rate)
Worked examples (AAPL pays US$1 per share)
- 10 shares, non-leveraged: US$1 × 10 × (1 − 0.15) = US$8.50
- 10 shares in a 2x leveraged position: US$1 × 10 × (1 − 0.30) = US$7.00
- The cum date decides eligibility. You need to hold the stock on or before the cum date to receive that dividend.
- ADRs can pay less. Non-US companies listed on US exchanges (ADRs) may face withholding tax in their home country on top of the US 15% or 30%, and converting the dividend from the local currency into USD can reduce it further. You can check a stock's country of incorporation by opening its asset page and tapping Profile.
- You report dividends yourself. Pluang does not issue a withholding tax slip (bukti potong) for US stock dividends, so you report them in your annual tax return (SPT Tahunan). The Tax Report in the app lists your total dividends for each year.
- Dividends show up in your portfolio. Dividends you receive appear in the Dividend line of the portfolio summary and count toward realised profit and loss.
Related questions:
Q: Why is the dividend I received smaller than the amount the company announced?
Because the announced amount is the gross dividend, before tax. Pluang pays you the dividend after withholding tax has been deducted at source: 15% for non-leveraged positions and 30% for 2x leveraged positions. If the stock is an ADR, tax in the company's home country and currency conversion into USD can reduce it further. Multiply the announced amount per share by the shares you held on the cum date, then apply the tax rate, to check the figure.
Q: Can I get dividends on a 4x Day Trade position?
No. 4x Day Trade positions cannot be held overnight, so they are never open on a cum date and do not qualify for dividends. If receiving dividends matters to you, only non-leveraged positions and 2x leveraged positions can be eligible. A 2x leveraged position also needs at least 0.1 shares held on the cum date, and its dividend is taxed at 30% rather than the 15% that applies to a non-leveraged position.
Q: When will the dividend be credited to my account?
Dividends are typically credited D+1 after the payable date announced by the company, and in some cases it can take up to D+7. The payable date is not the same as the cum date: the cum date decides whether you are eligible, while the payable date is when the company actually pays. If a dividend has not arrived after D+7 and you held the stock on the cum date, contact Pluang Care so the team can check it for you.
Q: Do I need to report US stock dividends in my tax return?
Yes. Although tax is already deducted before the dividend reaches you, you still need to report the dividend in your annual tax return (SPT Tahunan). Pluang does not issue a withholding tax slip (bukti potong) for these dividends. To make reporting easier, the Tax Report you can download in the app lists your total dividends received from US Stocks for each calendar year, alongside your realised profit or loss and your USD Yield.