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


TORONTO, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.04958 for each Class A share and $0.05250 for each Preferred share. Distributions are payable January 10, 2019 to shareholders on record as at December 31, 2018.

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 December 31, 2018 will receive a dividend of $0.04958 per share based on the VWAP of $5.95 payable on January 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 $10.49 per share and Preferred shareholders have received a total of $6.98 per share inclusive of this distribution, for a combined total of $17.47.

The Company 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.


Distribution Details 
  
Class A Share (PDV)$0.04958
Preferred Share (PDV.PR.A)$0.05250
Ex-Dividend Date:December 28, 2018
Record Date:December 31, 2018
Payable Date:January 10, 2019

Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.primedividend.com
info@quadravest.com