TORONTO, ONTARIO--(Marketwired - Oct. 18, 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 October 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 November 8, 2013 to shareholders on record as of October 31, 2013.
Since inception Class A shareholders have received a total of $6.79 per share and Preferred shareholders have received a total of $4.39 per share inclusive of this distribution, for a combined total of $11.18 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: | October 29, 2013 |
| Record Date: | October 31, 2013 |
| Payable Date: | November 8, 2013 |
Contact Information:
416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
www.primedividend.com