Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share

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TORONTO, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05683 for each Class A share and $0.05250 for each Preferred share. Distributions are payable September 10, 2019 to shareholders on record as at August 30, 2019. 

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 5 trading days of the preceding month. As a result, Class A shareholders of record on August 30, 2019 will receive a dividend of $0.05683 per share based on the VWAP of $6.82 payable on September 10, 2019. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
 
Preferred shareholders will receive prime plus 2.35% with a minimum rate of 5.00%.
 
Since inception Class A shareholders have received a total of $10.92 per share and Preferred shareholders have received a total of $7.40 per share inclusive of this distribution, for a combined total of $18.33.
 
The Company invests in a portfolio of high yielding Canadian Companies as follows:

    
 Banks Investment Management Life Insurance Utilities & Other
Bank of MontrealAGFManagement Ltd.Great-West Lifeco Inc.BCE Inc.
Bank of Nova ScotiaCIFinancial Corp.Manulife Financial CorporationTransAlta Corp
CIBCIGM 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   
 
 
Distribution Details
   
Class A Share (PDV) $0.05683
Preferred Share (PDV.PR.A) $0.05250
Ex-Dividend Date: August 29, 2019
Record Date:  August 30, 2019
Payable Date:  September 10, 2019

Investor Relations: 1-877-478-2372 
Local: 416-304-4443  
www.primedividend.com
[email protected] 

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