Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share
October 20 2009 - 9:01AM
Marketwired Canada
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 (2.25% as at October
15, 2009) 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 and the rate will not decline below this level. Distributions are
payable November 10, 2009 to shareholders on record as of October 30, 2009.
Since inception Class A shareholders have received a total of $3.79 per share
and Preferred shareholders have received a total of $2.39 per share inclusive of
this distribution, for a combined total of $6.18 per share.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as
follows:
Investment Utilities &
Banks Management Life Insurance Other
AGF Management Great-West Lifeco
Bank of Montreal Ltd. Inc. BCE Inc.
CI Financial Manulife
The Bank of Nova Scotia Income Fund Financial Corp. TransAlta Corp
IGM Financial Sun Life TransCanada
CIBC Inc. Financial Inc. Corp
Power Financial
National Bank of Canada Corp.
Royal Bank of Canada TSX 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: October 28, 2009
Record Date: October 30, 2009
Payable Date: November 10, 2009
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