Prime Dividend Corp.

TSX : PDV
TSX : PDV.PR.A


Prime Dividend Corp.

March 19, 2013 17:39 ET

Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share

TORONTO, ONTARIO--(Marketwire - March 19, 2013) - 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 March 15, 2013) 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 April 10, 2013 to shareholders on record as of March 28, 2013.

Since inception Class A shareholders have received a total of $6.35 per share and Preferred shareholders have received a total of $4.10 per share inclusive of this distribution, for a combined total of $10.45 per unit.

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: March 26, 2013
Record Date: March 28, 2013
Payable Date: April 10, 2013

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
    www.primedividend.com