April 18, 2017 17:30 ET
TORONTO, ONTARIO--(Marketwired - April 18, 2017) - Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06242 for each Class A share and $0.04167 for each Preferred share. Distributions are payable May 10, 2017 to shareholders on record as at April 28, 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 April 28, 2017 will receive a dividend of $0.06242 per share based on the VWAP of $7.49 payable on May 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 $9.24 per share and Preferred shareholders have received a total of $6.14 per share inclusive of this distribution, for a combined total of $15.38.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
Prime Dividend Corp.Investor Relations: 1-877-478-2372Local: firstname.lastname@example.org
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