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Subject: v

PRIME DIVIDEND CORP. Monthly Dividend Declaration for Class A & Preferred Share


TORONTO, March 18, 2024 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05375 for each Class A share and $0.06667 for each Preferred share. Distributions are payable April 10, 2024 to shareholders on record as at March 28, 2024.

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 March 28, 2024 will receive a dividend of $0.05375 per share based on the VWAP of $6.45 payable on April 10, 2024. 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% and a maximum rate of 8.00%.

Since inception Class A shareholders have received a total of $13.45 per share and Preferred shareholders have received a total of $10.29 per share inclusive of this distribution, for a combined total of $23.74.

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

 Banks Investment Management Life Insurance Utilities & Other
 Bank of Montreal AGF Management Ltd. Great-West Lifeco Inc. BCE Inc.
 Bank of Nova Scotia CI Financial Corp. Manulife Financial Corporation TransAlta Corp.
 CIBC IGM 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)$0.05375
Preferred Share (PDV.PR.A) $0.06667
Record Date:March 28, 2024
Payable Date: April 10, 2024


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


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