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PRIME DIVIDEND CORP. Monthly Dividend Declaration for Preferred Share

TORONTO, March 20, 2023 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06667 for each Preferred share. Distributions are payable April 10, 2023 to shareholders on record as at March 31, 2023

There will not be a distribution paid to the Class A Shares for March 31, 2023 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00.

Preferred shareholders receive prime plus 2.35% with a minimum rate of 5.00% and a maximum rate of 8.00%.

Since inception Class A shareholders have received a total of $13.07 per share and Preferred shareholders have received a total of $9.49 per share inclusive of this distribution, for a combined total of $22.56.

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

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

Distribution Details  
Preferred Share (PDV.PR.A) $0.06667
Record Date: March 31, 2023
Payable Date: April 10, 2023

Investor Relations: 1-877-478-2372 Local: 416-304-4443

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