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 | www.primedividend.com | info@quadravest.com |
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