/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 05/17/16 -- Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.05042 for each Class A share and $0.04167 for each Preferred share. Distributions are payable June 10, 2016 to shareholders on record as of May 31, 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 May 31, 2016 will receive a dividend of $0.05042 per share based on the VWAP of $6.05 over the last 5 trading days in April, payable on June 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 $8.65 per share and Preferred shareholders have received a total of $5.68 per share inclusive of this distribution, for a combined total of $14.33 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

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Distribution Details:
Class A Share (PDV)                           $0.05042
Preferred Share (PDV.PR.A)                    $0.04167
Ex-Dividend Date:                             May 27, 2016
Record Date:                                  May 31, 2016
Payable Date:                                 June 10, 2016
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Contacts:
Prime Dividend Corp.
Investor Relations:
1-877-478-2372 or Local: 416-304-4443
info@quadravest.com
www.primedividend.com

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