Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share
February 19 2014 - 4:49PM
Marketwired
Prime Dividend Corp.: Regular Monthly Dividend Declaration for
Class A and Preferred Share
TORONTO, ONTARIO--(Marketwired - Feb 19, 2014) - Prime Dividend
Corp. ("Prime Dividend") declares its regular monthly distribution
of $0.06250 (5.00% annualized) for each Class A share which
reflects the distribution policy of prime rate in Canada (3.00% as
at February 14, 2014) plus 2% annually. Prime Dividend also
declares its regular monthly distribution of $0.04167 (5.00%
annualized) for each Preferred share which reflects the
distribution policy of prime rate plus 0.75% annually. An annual
Class A and Preferred share payment of 5.00% is the minimum payment
as per the prospectus. Distributions are payable March 10, 2014 to
shareholders on record as of February 28, 2014.
Since inception
Class A shareholders have received a total of $7.04 per share and
Preferred shareholders have received a total of $4.56 per share
inclusive of this distribution, for a combined total of $11.60 per
unit.
Prime Dividend
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 Corp. |
|
TransAlta Corp |
CIBC |
|
IGM Financial Inc. |
|
Sun Life Financial Inc. |
|
TransCanada Corp |
National Bank of Canada |
|
|
|
|
|
Power
Financial Corp. |
Royal Bank of Canada |
|
|
|
|
|
TMX
Group Inc. |
Toronto-Dominion Bank |
|
|
|
|
|
|
Shares held
within the Portfolio will generally represent no less than 4% and
no more than 8% of the net asset value.
Distribution Details: |
Class
A Share (PDV) |
$0.06250 |
Preferred Share (PDV.PR.A) |
$0.04167 |
Ex-Dividend Date: |
February 26, 2014 |
Record Date: |
February 28, 2014 |
Payable Date: |
March
10, 2014 |
Prime Dividend Corp.Investor Relations416-304-4443 or Toll Free:
1-877-4-Quadra (1-877-478-2372)www.primedividend.com
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