Prime Dividend Corp.
TSX : PDV
TSX : PDV.PR.A

Prime Dividend Corp.

April 21, 2014 09:00 ET

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

TORONTO, ONTARIO--(Marketwired - April 21, 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 April 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 May 9, 2014 to shareholders on record as of April 30, 2014.

Since inception Class A shareholders have received a total of $7.17 per share and Preferred shareholders have received a total of $4.64 per share inclusive of this distribution, for a combined total of $11.81 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
Toronto-Dominion Bank
Investment Management
AGF Management Ltd.
CI Financial Corp.
IGM Financial Inc.
Life Insurance
Great-West Lifeco Inc.
Manulife Financial Corporation
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: April 28, 2014
Record Date: April 30, 2014
Payable Date: May 9, 2014

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