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:
Investor Relations
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
www.primedividend.com