/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 02/18/16 -- Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.04250 for each Class A share and $0.04167 for each Preferred share. The net asset value at the time of declaration was $15.47. Distributions are payable March 10, 2016 to shareholders on record as of February 29, 2016.

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 February 29, 2016 will receive a dividend of $0.04250 per share based on the VWAP of $5.10 over the last 5 trading days in January, payable on March 10, 2016. 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 $8.51 per share and Preferred shareholders have received a total of $5.55 per share inclusive of this distribution, for a combined total of $14.06 per unit.

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

                 Banks                         Investment Management
           Bank of Montreal                     AGF Management Ltd.
          Bank of Nova Scotia                   CI Financial Corp.
                 CIBC                           IGM Financial Inc.
        National Bank of Canada
         Royal Bank of Canada
         Toronto-Dominion Bank


            Life Insurance                       Utilities & Other
        Great-West Lifeco Inc.                       BCE Inc.
    Manulife Financial Corporation                TransAlta Corp
        Sun Life Financial Inc.                  TransCanada Corp
                                               Power Financial Corp.
                                                  TMX Group Inc.


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Distribution Details:
Class A Share (PDV)            $0.04250
Preferred Share (PDV.PR.A)     $0.04167
Ex-Dividend Date:              February 25, 2016
Record Date:                   February 29, 2016
Payable Date:                  March 10, 2016
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Contacts:
Investor Relations:
1-877-478-2372
Local: 416-304-4443
info@quadravest.com
www.primedividend.com

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