Welcome!

.NET Authors: Liz McMillan

News Feed Item

Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share

TORONTO, ONTARIO -- (Marketwire) -- 02/19/13 -- 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 15, 2013) 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 8, 2013 to shareholders on record as of February 28, 2013.

Since inception Class A shareholders have received a total of $6.29 per share and Preferred shareholders have received a total of $4.06 per share inclusive of this distribution, for a combined total of $10.35 per unit.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:


Banks              Investment          Life               Utilities         
                   Management          Insurance          & Other           
Bank of Montreal   AGF Management Ltd. Great-West Lifeco  BCE Inc.          
                                        Inc.                                
Bank of Nova       CI Financial Corp.  Manulife Financial TransAlta Corp    
 Scotia                                 Corp.                               
CIBC               IGM Financial Inc.  Sun Life Financial TransCanada Corp  
                                        Inc.                                
National Bank of                                          Power Financial   
 Canada                                                    Corp.            
Royal Bank of                                             TMX Group Inc.    
 Canada                                                                     
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, 2013              
Record Date:                                 February 28, 2013              
Payable Date:                                March 8, 2013                  

Contacts:
Prime Dividend Corp.
Investor Relations
416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
www.primedividend.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.