/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 08/17/16 -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.04792 for each Class A share and $0.04167 for each Preferred share. Distributions are payable September 9, 2016 to shareholders on record as at August 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 10.00% 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 August 31, 2016 will receive a dividend of $0.04792 per share based on the VWAP of $5.75 payable on September 9, 2016. 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 $8.79 per share and Preferred shareholders have received a total of $5.81 per share inclusive of this distribution, for a combined total of $14.60.

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.



---------------------------------------------------------
Distribution Details

Class A Share (PDV)                              $0.04792

Preferred Share (PDV.PR.A)                       $0.04167

Ex-Dividend Date:                         August 29, 2016

Record Date:                              August 31, 2016

Payable Date:                           September 9, 2016
---------------------------------------------------------

Contacts:
Investor Relations
1-877-478-2372
Local: 416-304-4443
www.primedividend.com
info@quadravest.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.