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


TORONTO, April 23, 2024 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05442 for each Class A share and $0.06667 for each Preferred share. Distributions are payable May 10, 2024 to shareholders on record as at April 30, 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 April 30, 2024 will receive a dividend of $0.05442 per share based on the VWAP of $6.53 payable on May 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 $13.50 per share and Preferred shareholders have received a total of $10.36 per share inclusive of this distribution, for a combined total of $23.86.

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)$0.05442
Preferred Share (PDV.PR.A)$0.06667
Record Date:April 30, 2024
Payable Date:May 10, 2024

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



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