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

/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Sep 20, 2017) - Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06308 for each Class A share and $0.04167 for each Preferred share. Distributions are payable October 10, 2017 to shareholders on record as at September 29, 2017.

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 September 29, 2017 will receive a dividend of $0.06308 per share based on the VWAP of $7.57 payable on October 10, 2017. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.

Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $9.54 per share and Preferred shareholders have received a total of $6.35 per share inclusive of this distribution, for a combined total of $15.89.

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)	$0.06308
Preferred Share (PDV.PR.A)	$0.04167
Ex-Dividend Date:	September 28, 2017
Record Date:	September 29, 2017
Payable Date:	October 10, 2017