Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share
February 17 2012 - 3:00PM
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 (3.00% as at February
15, 2012) 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 9, 2012 to shareholders on record as
of February 29, 2012.
Since inception Class A shareholders have received a total of $5.54 per share
and Preferred shareholders have received a total of $3.56 per share inclusive of
this distribution, for a combined total of $9.10 per share.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as
follows:
Banks Investment Life Insurance Utilities & Other
Management
Bank of Montreal AGF Management Great-West Lifeco BCE Inc.
Ltd. Inc.
Bank of Nova CI Financial Manulife Financial TransAlta Corp
Scotia Corp. Corp.
CIBC IGM Financial Sun Life Financial TransCanada Corp
Inc. 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 24, 2012
Record Date: February 29, 2012
Payable Date: March 9, 2012
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