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Classified in: Business
Subjects: STOCK/OTHER MARKET NEWS, v

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


TORONTO, March 20, 2018 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06758 for each Class A share and $0.04167 for each Preferred share. Distributions are payable April 10, 2018 to shareholders on record as at March 29, 2018.

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 March 29, 2018 will receive a dividend of $0.06758 per share based on the VWAP of $8.11 payable on April 10, 2018. 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 $9.94 per share and Preferred shareholders have received a total of $6.60 per share inclusive of this distribution, for a combined total of $16.54.

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)$0.06758
  
Preferred Share (PDV.PR.A)$0.04167
  
Ex-Dividend Date:March 28, 2018
  
Record Date:March 29, 2018
  
Payable Date:April 10, 2018
  

Investor Relations: 1-877-478-2372                          
Local: 416-304-4443                       
www.primedividend.com          
[email protected]

 


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