TORONTO, ONTARIO--(Marketwire - April 18, 2012) - Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.06250 (5.00% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (3.00% as at April 13, 2012) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A and Preferred share payment of 5.00% is the minimum payment as per the prospectus. Distributions are payable May 10, 2012 to shareholders on record as of April 30, 2012.
Since inception Class A shareholders have received a total of $5.67 per share and Preferred shareholders have received a total of $3.64 per share inclusive of this distribution, for a combined total of $9.31 per share.
Prime Dividend 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 Corp. | 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 |
Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value. |
Distribution Details: | ||||
Class A Share (PDV) | $0.06250 | |||
Preferred Share (PDV.PR.A) | $0.04167 | |||
Ex-Dividend Date: | April 26, 2012 | |||
Record Date: | April 30, 2012 | |||
Payable Date: | May 10, 2012 |
Contact Information:
Investor Relations
416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
www.primedividend.com