Prime Dividend Corp. Monthly Dividend Declaration for Preferred Share
TORONTO, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06667 for each Preferred share. Distributions are payable September 8, 2023 to shareholders on record as at August 31, 2023.
There will not be a distribution paid to the Class A Shares for August 31, 2023 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00
Preferred shareholders receive prime plus 2.35% with a minimum rate of 5.00% and a maximum rate of 8.00%.
Since inception Class A shareholders have received a total of $13.26 per share and Preferred shareholders have received a total of $9.82 per share inclusive of this distribution, for a combined total of $23.08.
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 | |
| Preferred Share (PDV.PR.A) | $0.06667 |
| Record Date: | August 31, 2023 |
| Payable Date: | September 8, 2023 |
Investor Relations: 1-877-478-2372
Local: 416-304-4443
