diff --git a/backend/app/models/dividend.rb b/backend/app/models/dividend.rb
index 756a4972f6..70e567a6d1 100644
--- a/backend/app/models/dividend.rb
+++ b/backend/app/models/dividend.rb
@@ -29,6 +29,7 @@ class Dividend < ApplicationRecord
   validates :withholding_percentage, numericality: { greater_than_or_equal_to: 0, only_integer: true }, allow_nil: true
   validates :net_amount_in_cents, numericality: { greater_than_or_equal_to: 0, only_integer: true }, allow_nil: true
   validates :qualified_amount_cents, numericality: { greater_than_or_equal_to: 0, only_integer: true }
+  validates :investment_amount_cents, numericality: { greater_than_or_equal_to: 0, only_integer: true }
 
   scope :pending_signup, -> { where(status: PENDING_SIGNUP) }
   scope :paid, -> { where(status: PAID) }
diff --git a/backend/config/data/seed_templates/gumroad.json b/backend/config/data/seed_templates/gumroad.json
index fbdb50990d..d101dca62f 100644
--- a/backend/config/data/seed_templates/gumroad.json
+++ b/backend/config/data/seed_templates/gumroad.json
@@ -243,6 +243,7 @@
             "withheld_tax_cents": 0,
             "qualified_amount_cents": 0,
             "number_of_shares": 1230,
+            "investment_amount_cents": 100000,
             "status": "Paid"
           },
           "convertible_securities": [
diff --git a/backend/db/migrate/20260212085651_make_investment_amount_cents_not_null_on_dividends.rb b/backend/db/migrate/20260212085651_make_investment_amount_cents_not_null_on_dividends.rb
new file mode 100644
index 0000000000..c746496574
--- /dev/null
+++ b/backend/db/migrate/20260212085651_make_investment_amount_cents_not_null_on_dividends.rb
@@ -0,0 +1,9 @@
+class MakeInvestmentAmountCentsNotNullOnDividends < ActiveRecord::Migration[8.0]
+  def up
+    change_column_null :dividends, :investment_amount_cents, false
+  end
+
+  def down
+    change_column_null :dividends, :investment_amount_cents, true
+  end
+end
diff --git a/backend/db/schema.rb b/backend/db/schema.rb
index 3840ce08b8..f65441ff73 100644
--- a/backend/db/schema.rb
+++ b/backend/db/schema.rb
@@ -10,7 +10,7 @@
 #
 # It's strongly recommended that you check this file into your version control system.
 
-ActiveRecord::Schema[8.0].define(version: 2026_02_02_034515) do
+ActiveRecord::Schema[8.0].define(version: 2026_02_12_085651) do
   # These are extensions that must be enabled in order to support this database
   enable_extension "citext"
   enable_extension "pg_catalog.plpgsql"
@@ -377,7 +377,7 @@
     t.bigint "user_compliance_info_id"
     t.bigint "qualified_amount_cents", null: false
     t.datetime "signed_release_at"
-    t.bigint "investment_amount_cents"
+    t.bigint "investment_amount_cents", null: false
     t.string "external_id", null: false
     t.index ["company_id"], name: "index_dividends_on_company_id"
     t.index ["company_investor_id"], name: "index_dividends_on_company_investor_id"
diff --git a/frontend/app/(dashboard)/equity/dividend_rounds/[type]/[id]/page.tsx b/frontend/app/(dashboard)/equity/dividend_rounds/[type]/[id]/page.tsx
index 8d9635e60b..deae14771a 100644
--- a/frontend/app/(dashboard)/equity/dividend_rounds/[type]/[id]/page.tsx
+++ b/frontend/app/(dashboard)/equity/dividend_rounds/[type]/[id]/page.tsx
@@ -42,9 +42,6 @@ const DividendRound = ({ id }: { id: string }) => {
     dividendRoundId: id,
   });
 
-  // Old dividend records don't have an investment amount
-  const hasInvestmentAmounts = dividends.some((dividend) => dividend.investmentAmountCents !== null);
-
   const columnHelper = createColumnHelper<Dividend>();
   const columns = useMemo(
     () => [
@@ -54,18 +51,14 @@ const DividendRound = ({ id }: { id: string }) => {
         cell: (info) => <div className="font-light">{info.getValue() || "Unknown"}</div>,
         footer: "Total",
       }),
-      ...(hasInvestmentAmounts
-        ? [
-            columnHelper.accessor("investmentAmountCents", {
-              header: "Investment amount",
-              cell: (info) => formatMoneyFromCents(Number(info.getValue())),
-              meta: { numeric: true },
-              footer: formatMoneyFromCents(
-                dividends.reduce((sum, dividend) => sum + Number(dividend.investmentAmountCents), 0),
-              ),
-            }),
-          ]
-        : []),
+      columnHelper.accessor("investmentAmountCents", {
+        header: "Investment amount",
+        cell: (info) => formatMoneyFromCents(Number(info.getValue())),
+        meta: { numeric: true },
+        footer: formatMoneyFromCents(
+          dividends.reduce((sum, dividend) => sum + Number(dividend.investmentAmountCents), 0),
+        ),
+      }),
       columnHelper.accessor("totalAmountInCents", {
         header: "Return amount",
         cell: (info) => formatMoney(Number(info.getValue()) / 100),
diff --git a/frontend/app/(dashboard)/equity/dividends/page.tsx b/frontend/app/(dashboard)/equity/dividends/page.tsx
index 4457da7f31..4b907a2e9b 100644
--- a/frontend/app/(dashboard)/equity/dividends/page.tsx
+++ b/frontend/app/(dashboard)/equity/dividends/page.tsx
@@ -134,7 +134,7 @@ export default function Dividends() {
       columnHelper.simple(
         "investmentAmountCents",
         "Investment amount",
-        (value) => (value ? formatMoneyFromCents(value) : "N/A"),
+        (value) => formatMoneyFromCents(value),
         "numeric",
       ),
       columnHelper.simple("totalAmountInCents", "Gross amount", (value) => formatMoneyFromCents(value), "numeric"),
diff --git a/frontend/db/schema.ts b/frontend/db/schema.ts
index 2d0690e80b..3d6d84dcd9 100644
--- a/frontend/db/schema.ts
+++ b/frontend/db/schema.ts
@@ -447,7 +447,7 @@ export const dividends = pgTable(
     userComplianceInfoId: bigint("user_compliance_info_id", { mode: "bigint" }),
     qualifiedAmountCents: bigint("qualified_amount_cents", { mode: "bigint" }).notNull(),
     signedReleaseAt: timestamp("signed_release_at", { precision: 6, mode: "date" }),
-    investmentAmountCents: bigint("investment_amount_cents", { mode: "bigint" }),
+    investmentAmountCents: bigint("investment_amount_cents", { mode: "bigint" }).notNull(),
     externalId: varchar("external_id").$default(nanoid).notNull(),
   },
   (table) => [