Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share
May 18 2022 - 9:00AM
Prime Dividend Corp. (The "Company") declares its monthly
distribution of $0.07717 for each Class A share and $0.04625 for
each Preferred share. Distributions are payable June 10, 2022 to
shareholders on record as at May 31, 2022.
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 May 31, 2022 will receive a dividend of
$0.07717 per share based on the VWAP of $9.26 payable on June 10,
2022. The yield will remain stable at 10.00% (based on the VWAP)
under this distribution policy.
Preferred shareholders will receive prime plus
2.35% with a minimum rate of 5.00%.
Since inception Class A shareholders have
received a total of $12.56 per share and Preferred shareholders
have received a total of $8.86 per share inclusive of this
distribution, for a combined total of $21.42.
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 |
|
Class A Share
(PDV) |
$0.07717 |
Preferred Share
(PDV.PR.A) |
$0.04625 |
Record
Date: |
May 31, 2022 |
Payable Date: |
June 10, 2022 |
|
|
Investor Relations: 1-877-478-2372Local:
416-304-4443www.primedividend.cominfo@quadravest.com
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