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Classified in: Business
Subject: v

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



TORONTO, May 18, 2018 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06250 for each Class A share and $0.04167 for each Preferred share. Distributions are payable June 8, 2018 to shareholders on record as at May 31, 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 May 31, 2018 will receive a dividend of $0.06250 per share based on the VWAP of $7.50 payable on June 8, 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 $10.07 per share and Preferred shareholders have received a total of $6.68 per share inclusive of this distribution, for a combined total of $16.75.

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

BanksInvestment ManagementLife InsuranceUtilities & Other
Bank of MontrealAGF Management Ltd.Great-West Lifeco Inc.BCE Inc.
Bank of Nova ScotiaCI Financial Corp.Manulife Financial CorporationTransAlta Corp
CIBCIGM 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)$0.06250
Preferred Share (PDV.PR.A)$0.04167
Ex-Dividend Date:May 30, 2018
Record Date:May 31, 2018
Payable Date:June 8, 2018


Investor Relations:
1-877-478-2372                
Local: 416-304-4443                                                                        
www.primedividend.com                                                                        
info@quadravest.com

 


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News published on 18 may 2018 at 09:03 and distributed by: