TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) — Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.05517 for each Class A share and $0.06667 for each Preferred share. Distributions are payable October 10, 2024 to shareholders on record as at September 30, 2024.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 5 trading days of the preceding month. As a result, Class A shareholders of record on September 30, 2024 will receive a dividend of $0.05517 per share based on the VWAP of $6.62 payable on October 10, 2024. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Preferred shareholders will receive prime plus 2.35% with a minimum rate of 5.00% and a maximum rate of 8.00%.
Since inception Class A shareholders have received a total of $13.77 per share and Preferred shareholders have received a total of $10.69 per share inclusive of this distribution, for a combined total of $24.46.
The Company 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 Group | Manulife Financial Corporation | TransAlta Corp. |
| CIBC | IGM Financial Inc. | Sun Life Financial Inc. | TC Energy Corp. |
| National Bank of Canada | Power Financial Corp. | ||
| Royal Bank of Canada | TMX Group Inc. | ||
| Toronto-Dominion Bank |
| Distribution Details | |
| Class A Share (PDV) | $0.05517 |
| Preferred Share (PDV.PR.A) | $0.06667 |
| Record Date: | September 30, 2024 |
| Payable Date: | October 10, 2024 |
Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.dividend15.com
info@quadravest.com
