March 20, 2017 09:00 ET
TORONTO, ONTARIO--(Marketwired - March 20, 2017) - Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06317 for each Class A share and $0.04167 for each Preferred share. Distributions are payable April 10, 2017 to shareholders on record as at March 31, 2017.
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 31, 2017 will receive a dividend of $0.06317 per share based on the VWAP of $7.58 payable on April 10, 2017. 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 $9.18 per share and Preferred shareholders have received a total of $6.10 per share inclusive of this distribution, for a combined total of $15.27.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
Investor Relations: 1-877-478-2372Local: email@example.com
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