Prime Dividend Corp.
TSX : PDV
TSX : PDV.PR.A

Prime Dividend Corp.

June 18, 2015 09:00 ET

Prime Dividend Corp.: Monthly Dividend Declaration for Class A Share and Preferred Share

TORONTO, ONTARIO--(Marketwired - June 18, 2015) - Prime Dividend Corp. (the "Company") (TSX:PDV)(TSX:PDV.PR.A) declares its monthly distribution of $0.06317 for each Class A share and $0.04167 for each Preferred share. Distributions are payable July 10, 2015 to shareholders on record as of June 30, 2015.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10% 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 June 30, 2015 will receive a dividend of $0.06317 per share based on the VWAP of $7.58 over the last 5 trading days in May, payable on July 10, 2015. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this new distribution policy.

Preferred shareholders continue to received prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $8.09 per share and Preferred shareholders have received a total of $5.22 per share inclusive of this distribution, for a combined total of $13.31 per unit.

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. TransCanada Corp.
National Bank of Canada Power Financial Corp.
Royal Bank of Canada TMX Group Inc.
Toronto-Dominion Bank
Distribution Details:
Class A Share (PDV) $0.06317
Preferred Share (PDV.PR.A) $0.04167
Ex-Dividend Date: June 26, 2015
Record Date: June 30, 2015
Payable Date: July 10, 2015

For further information, please contact Investor Relations at 416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372), or visit www.primedividend.com.

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
    www.primedividend.com