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

TORONTO, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05792 for each Class A share and $0.05250 for each Preferred share. Distributions are payable November 8, 2019 to shareholders on record as at October 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 October 31, 2019 will receive a dividend of $0.05792 per share based on the VWAP of $6.95 payable on November 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 $11.03 per share and Preferred shareholders have received a total of $7.51 per share inclusive of this distribution, for a combined total of $18.54.

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

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