TORONTO, April 20, 2022 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.07508 for each Class A share and $0.04625 for each Preferred share. Distributions are payable May 10, 2022 to shareholders on record as at April 29, 2022.
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 April 29, 2022 will receive a dividend of $0.07508 per share based on the VWAP of $9.01 payable on May 10, 2022. 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 $12.49 per share and Preferred shareholders have received a total of $8.81 per share inclusive of this distribution, for a combined total of $21.30.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
| Banks | Investment Management | Life Insurance | Utilities & Other |
| Bank of Montreal Bank of Nova Scotia CIBC National Bank of Canada Royal Bank of Canada Toronto-Dominion Bank | AGF Management Ltd. CI Financial Corp. IGM Financial Inc. | Great-West Lifeco Inc. Manulife Financial Corporation Sun Life Financial Inc. | BCE Inc. TransAlta Corp. TC Energy Corp. Power Financial Corp. TMX Group Inc. |
| Distribution Details | |
| Class A Share (PDV) | $0.07508 |
| Preferred Share (PDV.PR.A) | $0.04625 |
| Record Date: | April 29, 2022 |
| Payable Date: | May 10, 2022 |
| Investor Relations: 1-877-478-2372 | Local: 416-304-4443 | www.primedividend.com | info@quadravest.com |
