Yes, stock dividends could be claimed even if they are reinvested. As per Canada Revenue Agency, Cash dividends are usually taxable even if investors reinvest that money automatically through their brokerage account or via the company's DRIP. However, tax rates can vary significantly depending on the type of dividend paid (qualified or non-qualified) and an investor's taxable income.
Fore more information: Dividends
Thank you for choosing TurboTax.
