Prime Dividend Corp. Monthly Dividend Declaration for Preferred Share
TORONTO, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06667 for each Preferred share. Distributions are payable December 8, 2023 to shareholders on record as at November 30, 2023.
There will not be a distribution paid to the Class A Shares for November 30, 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 $10.02 per share inclusive of this distribution, for a combined total of $23.28.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
Banks
Bank of Montreal Bank of Nova Scotia CIBC National Bank of Canada Royal Bank of Canada Toronto-Dominion Bank
Investment Management
AGF Management Ltd. CI Financial Corp. IGM Financial Inc.
Life Insurance
Great-West Lifeco Inc. Manulife Financial Corporation Sun Life Financial Inc.
Utilities & Other
BCE Inc. TransAlta Corp. TC Energy Corp. Power Financial Corp. TMX Group Inc.
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