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Subject: v

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


TORONTO, May 18, 2022 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.07717 for each Class A share and $0.04625 for each Preferred share. Distributions are payable June 10, 2022 to shareholders on record as at May 31, 2022.

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, 2022 will receive a dividend of $0.07717 per share based on the VWAP of $9.26 payable on June 10, 2022. 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 $12.56 per share and Preferred shareholders have received a total of $8.86 per share inclusive of this distribution, for a combined total of $21.42.

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.TC Energy Corp.
National Bank of Canada  Power Financial Corp.
Royal Bank of Canada  TMX Group Inc.
Toronto-Dominion Bank   


Distribution Details 
Class A Share (PDV)$0.07717
Preferred Share (PDV.PR.A)$0.04625
Record Date:May 31, 2022
Payable Date:June 10, 2022
  

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



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