# Tracking dividends > What your holdings have paid, what they are on track to pay, and where the line between recorded and projected sits. The dashed part of the chart is an assumption, not a forecast we stand behind. The **Dividends** tab on the investments dashboard answers two different questions, and keeps them visibly apart: what you have been paid, and what you are on track to be paid. ## What you have been paid At the top: **gross** and **net** dividends over the trailing twelve months. The gap between them is withholding tax, and Gylder states it plainly, including the average rate it worked out across your payments. Dividend tax is deducted at source and varies by the country the company sits in, so a portfolio spread across markets has a blended rate rather than one number you would recognise from a tax return. These figures come from payments that actually happened, recorded from your transaction history. They are not derived or estimated. Alongside them sit **forward yield** and **yield on cost**, which answer different questions. Forward yield measures income against what the holdings are worth now; [yield on cost](/concepts/yield-on-cost) measures it against what you paid. ## What you are on track to be paid **Projected annual dividend income**, shown as a chart over time, and the distinction inside it is the important part. **The solid line is the trailing twelve-month run rate.** It is built from payments that happened. Where it steps down, that is a position you sold, not a dividend cut. **The dashed line is projected**, and it grows at an assumed dividend growth rate plus an inflation figure you control. Dashed means assumption. Gylder does not pretend this is a forecast it stands behind. It is arithmetic applied to your own inputs, drawn differently from the recorded part so you cannot mistake one for the other. ## The inflation field starts at zero There is an **inflation** input if you want future income expressed in today's money. It starts at zero and stays there unless you set it. Gylder does not suggest a rate, because a pre-filled 2% would be a forecast presented as a default, and a zero produces a projection that visibly declines to predict. Set it if you have a view. Leave it if you do not. ## Monthly income Monthly bars show what arrived and what is still expected, over the same window as the projection. Hovering a bar splits it. Dividends are lumpy. Most European companies pay annually or twice a year, most US ones quarterly, so a portfolio mixing both produces months that look empty and months that look enormous. That is the shape of the payments, not a problem with the data. ## The payout schedule A per-payment table with the security, its status, and gross, tax and net amounts. **Expected rows are projected from what you have received**, rolled forward a year. They are not announcements from your broker. Broker-announced ex-dividend and payment dates arrive with the datafeed tier rather than being available today, so an expected date is an estimate based on last year's timing. Treat expected rows as a planning aid, not a calendar to rely on. ## Dividends and time travel Time travel does not apply here. Income and projections are forward-looking, so they are not shown for a single past date, and the tab says so rather than showing something meaningless. To see the portfolio as it stood on a past date, use Overview or Performance. See [using the investments dashboard](/guides/using-the-investments-dashboard). ## If the tab is empty **No dividend history yet** means no dividend payments have been recorded. The common causes: your holdings do not pay dividends, your imported history does not go back far enough to include one, or the account holding them has not synced. A DeGiro import only contains what was in the CSV, so a partial export can leave dividends out entirely. See [importing a DeGiro CSV](/guides/importing-a-degiro-csv).