/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 10/20/15 -- Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.04975 for each Class A share and $0.04167 for each Preferred share. Distributions are payable November 10, 2015 to shareholders on record as of October 30, 2015.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10% 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 October 30, 2015 will receive a dividend of $0.04975 per share based on the VWAP of $5.97 over the last 5 trading days in September, payable on November 10, 2015. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this new distribution policy.

Preferred shareholders continue to received prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $8.32 per share and Preferred shareholders have received a total of $5.39 per share inclusive of this distribution, for a combined total of $13.71 per unit.

The Company invests in a portfolio of high yielding Canadian Companies as follows:

Banks                     Investment      Life Insurance   Utilities & Other
                          Management
Bank of Montreal      AGF Management   Great-West Lifeco            BCE Inc.
                                Ltd.                Inc.
Bank of Nova      CI Financial Corp.  Manulife Financial      TransAlta Corp
Scotia                                       Corporation
CIBC              IGM Financial Inc.  Sun Life Financial    TransCanada Corp
                                                    Inc.
National Bank of                                             Power Financial
Canada                                                                 Corp.
Royal Bank of                                                 TMX Group Inc.
Canada
Toronto-Dominion
Bank

Distribution Details:
Class A Share (PDV)                                                 $0.04975
Preferred Share (PDV.PR.A)                                          $0.04167
Ex-Dividend Date:                                           October 28, 2015
Record Date:                                                October 30, 2015
Payable Date:                                              November 10, 2015
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Contacts:
Investor Relations:
1-877-478-2372
Local: 416-304-4443
www.primedividend.com
info@quadravest.com

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