TORONTO, ONTARIO--(Marketwire - Mar 19, 2013) - 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, 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 April 10, 2013 to shareholders on record as of March 28, 2013.
Since inception Class A shareholders have received a total of $6.35 per share and Preferred shareholders have received a total of $4.10 per share inclusive of this distribution, for a combined total of $10.45 per unit.
Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:
|Banks||Investment Management||Life Insurance||Utilities & Other|
|Bank of Montreal||AGF Management Ltd.||Great-West Lifeco Inc.||BCE Inc.|
|Bank of Nova Scotia||CI Financial Corp.||Manulife Financial Corp.||TransAlta Corp.|
|CIBC||IGM Financial Inc.||Sun Life Financial Inc.||TransCanada Corp.|
|National Bank of Canada||Power Financial Corp.|
|Royal Bank of Canada||TMX Group Inc.|
|Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value.|
|Class A Share (PDV)||$0.06250|
|Preferred Share (PDV.PR.A)||$0.04167|
|Ex-Dividend Date:||March 26, 2013|
|Record Date:||March 28, 2013|
|Payable Date:||April 10, 2013|