TORONTO, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly
distribution of $0.04808 for each Class A share and $0.05250 for each Preferred share. Distributions are payable February 8, 2019
to shareholders on record as at January 31, 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 January 31, 2019 will receive a dividend
of $0.04808 per share based on the VWAP of $5.77 payable on February 8, 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 $10.53 per share and Preferred shareholders have
received a total of $7.04 per share inclusive of this distribution, for a combined total of $17.57.
The Company invests in a portfolio of high yielding Canadian Companies as follows:
| |
|
|
|
|
|
| Banks |
|
Investment
Management |
Life Insurance |
Utilities & Other |
| Bank of Montreal |
|
AGF Management Ltd. |
Great-West Lifeco Inc. |
BCE Inc. |
| Bank of Nova Scotia |
|
CI Financial Corp. |
Manulife Financial Corporation |
TransAlta Corp |
| CIBC |
|
IGM 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) |
|
|
|
$0.04808 |
| Preferred Share (PDV.P R.A) |
|
|
|
$0.05250 |
| Ex-Dividend Date: |
|
|
|
|
January 30, 2019 |
| Record Date: |
|
|
|
|
January 31, 2019 |
| Payable Date: |
|
|
|
|
February 8,
2019 |
