Prime Dividend Corp. Monthly Dividend Declaration for Preferred Share
TORONTO, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06667 for each Preferred share. Distributions are payable November 10, 2023 to shareholders on record as at October 31, 2023.
There will not be a distribution paid to the Class A Shares for October 31, 2023 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00.
Preferred shareholders receive prime plus 2.35% with a minimum rate of 5.00% and a maximum rate of 8.00%.
Since inception Class A shareholders have received a total of $13.26 per share and Preferred shareholders have received a total of $9.96 per share inclusive of this distribution, for a combined total of $23.22.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
Banks
Investment Management
Life Insurance
Utilities & Other
Bank of Montreal Bank of Nova Scotia CIBC National Bank of Canada Royal Bank of Canada Toronto-Dominion Bank
AGF Management Ltd CI Financial Corp. IGM Financial Inc.
Great-West Lifeco Inc. Manulife Financial Corporation Sun Life Financial Inc.
BCE Inc. TransAlta Corp. TC Energy Corp. Power Financial Corp TMX Group Inc.
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