Prime Dividend Corp.

TSX : PDV
TSX : PDV.PR.A


Prime Dividend Corp.

March 19, 2014 09:00 ET

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

TORONTO, ONTARIO--(Marketwired - March 19, 2014) - 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, 2014) 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, 2014 to shareholders on record as of March 31, 2014.

Since inception Class A shareholders have received a total of $7.10 per share and Preferred shareholders have received a total of $4.60 per share inclusive of this distribution, for a combined total of $11.70 per unit.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:

Banks
Bank of Montreal
Bank of Nova Scotia
CIBC
National Bank of Canada
Royal Bank of Canada
Investment Management
AGF Management Ltd.
CI Financial Corp.
IGM Financial Inc.
Life Insurance
Great-West Lifeco Inc.
Manulife Financial Corp.
Sun Life Financial Inc.
Utilities & Other
BCE Inc.
TransAlta Corp
TransCanada Corp
Power Financial Corp.
TMX Group Inc.

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 27, 2014
Record Date: March 31, 2014
Payable Date: April 10, 2014

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    www.primedividend.com