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

Prime Dividend Corp.

June 20, 2016 18:52 ET

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

TORONTO, ONTARIO--(Marketwired - June 20, 2016) - Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.05042 for each Class A share and $0.04167 for each Preferred share. Distributions are payable July 8, 2016 to shareholders on record as of June 30, 2016.

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, 2016 will receive a dividend of $0.05042 per share based on the VWAP of $6.05 over the last 5 trading days in May, payable on July 8, 2016. 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 receive prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $8.70 per share and Preferred shareholders have received a total of $5.72 per share inclusive of this distribution, for a combined total of $14.42 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) $0.05042
Preferred Share (PDV.PR.A) $0.04167
Ex-Dividend Date: June 28, 2016
Record Date: June 30, 2016
Payable Date: July 8, 2016

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