TORONTO, ONTARIO--(Marketwire - June 20, 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 June 15, 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 July 10, 2012 to shareholders on record as of June 29, 2012.
Since inception Class A shareholders have received a total of $5.79 per share and Preferred shareholders have received a total of $3.72 per share inclusive of this distribution, for a combined total of $9.51 per share.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:
| Banks |
Investment Management |
Life Insurance |
Utilities & Other |
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| 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 |
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Power Financial Corp. |
| Royal Bank of Canada |
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TMX Group Inc. |
| Toronto-Dominion Bank |
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Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value.
| Distribution Details: |
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| Class A Share (PDV) |
$0.06250 |
| Preferred Share (PDV.PR.A) |
$0.04167 |
| Ex-Dividend Date: |
June 27, 2012 |
| Record Date: |
June 29, 2012 |
| Payable Date: |
July 10, 2012 |