Le Lézard
Classified in: Business
Subject: DIVIDENDS

Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share


TORONTO, ONTARIO--(Marketwired - Jan. 18, 2017) - Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05942 for each Class A share and $0.04167 for each Preferred share. Distributions are payable February 10, 2017 to shareholders on record as at January 31, 2017.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 5 trading days of the preceding month. As a result, Class A shareholders of record on January 31, 2017 will receive a dividend of $0.05942 per share based on the VWAP of $7.13 payable on February 10, 2017. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.

Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $9.05 per share and Preferred shareholders have received a total of $6.01 per share inclusive of this distribution, for a combined total of $15.06.

The Company invests in a portfolio of high yielding Canadian Companies as follows:

             
Banks   Investment Management   Life Insurance   Utilities & Other
Bank of Montreal   AGF Management Ltd.   Great-West Lifeco Inc.   BCE Inc.
Bank of Nova Scotia   CI Financial Corp.   Manulife Financial Corporation   TransAlta Corp
CIBC   IGM Financial Inc.   Sun Life Financial Inc.   TransCanada Corp
National Bank of Canada           Power Financial Corp.
Royal Bank of Canada           TMX Group Inc.
Toronto-Dominion Bank            
 
Distribution Details    
 
Class A Share (PDV)   $0.05942
Preferred Share (PDV.PR.A)   $0.04167
Ex-Dividend Date:   January 27, 2017
Record Date:   January 31, 2017
Payable Date:   February 10, 2017

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