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

/ -- TORONTO, ONTARIO -- (Marketwired) -- 06/20/16 -- 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 July 8, 2016 to shareholders on record as of June 30, 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 June 30, 2016 will receive a dividend of $0.05042 per share based on the VWAP of $6.05 over the last 5 trading days in May, payable on July 8, 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 receive prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $8.70 per share and Preferred shareholders have received a total of $5.72 per share inclusive of this distribution, for a combined total of $14.42 per unit.

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

     Banks           Management       Life Insurance     Utilities & Other

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

Distribution Details:

Class A Share (PDV)                   $0.05042
Preferred Share (PDV.PR.A)            $0.04167
Ex-Dividend Date:                     June 28, 2016
Record Date:                          June 30, 2016
Payable Date:                         July 8, 2016

Investor Relations:
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