TORONTO, ONTARIO -- (Marketwired) -- 05/21/13 -- 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 May 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 June 10, 2013 to shareholders on record as of May 31, 2013.
Since inception Class A shareholders have received a total of $6.48 per share and Preferred shareholders have received a total of $4.18 per share inclusive of this distribution, for a combined total of $10.66 per unit.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:
Banks Investment Life Insurance Utilities & OtherBank of Montreal Management Great-West Lifeco BCE Inc.Bank of Nova AGF Management Inc. TransAlta CorpScotia Ltd. Manulife Financial TransCanada CorpCIBC CI Financial Corp. Corp. Power FinancialNational Bank of IGM Financial Inc. Sun Life Financial Corp.Canada Inc. TMX Group Inc.Royal Bank ofCanadaToronto-DominionBank
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) $0.06250Preferred Share (PDV.PR.A) $0.04167Ex-Dividend Date: May 29, 2013Record Date: May 31, 2013Payable Date: June 10, 2013
Prime Dividend Corp.
416-304-4443 or Toll free at 1-877-4-Quadra (1-877-478-2372)