Yes. Dividends reach tokenized stocks, and "how" has more than one answer right now. The difference is large enough that you should know which one applies to the token you hold.
With four of the five issuers, a dividend arrives as arithmetic rather than money. Someone waiting for a payment to land will conclude the dividend was skipped, and they will be wrong.
The five approaches
Robinhood keeps a multiplier inside the token contract. To pass on a dividend it raises that number, and your share count is your raw token balance times it. Nothing is paid to you and no tokens move. Because the number lives on the token, a wallet shows the change by itself.
You can watch this happen. On 27 July 2026 the multiplier for ORCL rose by about 0.22 percent in a single transaction on Robinhood Chain, which is linked at the top of this page. Open it.
Ondo Global Markets uses the same idea. Ondo publishes a synthetic share value for each of its tokens, and it rises as dividends are reinvested. Ondo describes its tokens as total return trackers. On Ethereum and BNB Chain the number is in a separate contract rather than on the token. Because the figure sits outside the token there, a wallet balance stays put and so does the number the wallet displays. What changes is how many shares each token counts as, and you have to read Ondo's contract to see it. On Solana, Ondo's mints carry the figure in the Scaled UI Amount extension, so a wallet that reads the extension shows the change.
Backed, through xStocks, uses a rebasing multiplier. On Solana it is the Scaled UI Amount extension, and on Ethereum and BNB Chain it is a figure on the token contract. Same family of mechanic, and the same result: no payment to you.
Coinbase, for its tokens on Base, keeps a multiplier on the token, as Robinhood does. Coinbase's documentation states that cash dividends are converted to shares of the underlying equity and reflected by raising the multiplier, rather than paid out as cash. Nothing is paid out.
Dinari is the odd one out, and the one that behaves the way most people expect. Dinari states that cash dividends are paid to the holder's wallet as a stablecoin. Money arrives.
Why the difference exists
It follows from the wrapper, which is the legal form the issuer put around the share. Robinhood states it issues debt securities. Ondo issues through a bankruptcy-remote special purpose vehicle and states its tokens give economic exposure similar to holding the share and reinvesting dividends, rather than title to the share. Backed issues tracker certificates. Dinari issues dShares. Coinbase issues B20 tokens through a special purpose vehicle registered in the Abu Dhabi Global Market.
Different structures produce different answers to "where does the cash go". All are correct for the product they describe, which is the useful thing to take away: a tokenized stock is not one product.
How to tell which one you hold
Every stock page on this site names the issuer of each token and prints its wrapper, and each issuer page prints that issuer's dividend mechanic. A page for a stock with several issuers shows several rows, because it is several products. The glossary defines the mechanics if the terms are unfamiliar, and the events page lists every corporate action we hold a transaction for.
Reasoning from "a tokenized stock" in the abstract is what goes wrong. Check the issuer, then check what that issuer says.
Every claim about an issuer above is that issuer's own description, and each is linked so you can read it in full.