Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share
March 20 2012 - 9:00AM
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 March 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 April 10, 2012 to shareholders on record
as of March 30, 2012.
Since inception Class A shareholders have received a total of $5.60 per share
and Preferred shareholders have received a total of $3.60 per share inclusive of
this distribution, for a combined total of $9.20 per share.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as
follows:
Banks Investment Management Life Insurance Utilities & Other
Bank of Great-West Lifeco
Montreal AGF Management Ltd. Inc. BCE Inc.
Bank of Nova Manulife
Scotia CI Financial Corp. Financial Corp. TransAlta Corp
Sun Life
CIBC IGM Financial Inc. 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: March 28, 2012
Record Date: March 30, 2012
Payable Date: April 10, 2012
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