Le Lézard
Classified in: Business
Subject: v

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


TORONTO, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.04808 for each Class A share and $0.05250 for each Preferred share. Distributions are payable February 8, 2019 to shareholders on record as at January 31, 2019.

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, 2019 will receive a dividend of $0.04808 per share based on the VWAP of $5.77 payable on February 8, 2019. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.

Preferred shareholders will receive prime plus 2.35% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $10.53 per share and Preferred shareholders have received a total of $7.04 per share inclusive of this distribution, for a combined total of $17.57.

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

      
Banks Investment ManagementLife InsuranceUtilities & Other
Bank of Montreal AGF Management Ltd.Great-West Lifeco Inc.BCE Inc.
Bank of Nova Scotia CI Financial Corp.Manulife Financial CorporationTransAlta 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)   $0.04808
Preferred Share (PDV.P R.A)   $0.05250
Ex-Dividend Date:    January 30, 2019
Record Date:    January 31, 2019
Payable Date:    February 8, 2019


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

These press releases may also interest you

at 09:30
Connolly Brothers Inc., a construction management firm serving private commercial, industrial and institutional clients, recently completed a 52,000 square-foot design-build fit-up project for Calare Properties. The facility, located in Milford, MA,...

at 09:30
Policybazaar, India's leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, benefits and...

at 09:27
My Daily Leadership, a pioneering leadership development company, has announced the launch of its proprietary Leadership Assessment tool. Designed to help leaders benchmark themselves against top leaders across the globe, the assessment helps to...

at 09:20
This strategic move...

at 09:07
Olympus announced today that it has been awarded a contract for its advanced energy portfolio by Provista Inc. This new, nationwide agreement provides Provista members with negotiated pricing for Olympus® energy products, including the...

at 09:05
Popular, Inc. announced today that it expects to report its financial results for the first quarter ending March 31, 2024, before the market opens on Tuesday, April 23, 2024. Popular will hold a conference call to discuss the financial results the...



News published on and distributed by: