October 19, 2016 09:00 ET
TORONTO, ONTARIO--(Marketwired - Oct. 19, 2016) - Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.04742 for each Class A share and $0.04167 for each Preferred share. Distributions are payable November 10, 2016 to shareholders on record as at October 31, 2016.
Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10.00% 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 October 31, 2016 will receive a dividend of $0.04742 per share based on the VWAP of $5.69 payable on November 10, 2016. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.
Since inception Class A shareholders have received a total of $8.89 per share and Preferred shareholders have received a total of $5.89 per share inclusive of this distribution, for a combined total of $14.78.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
Investor Relations:1-877-478-2372Local: firstname.lastname@example.org
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