(Source: MARKETWIRE)
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 (2.25% as at June 15, 2009) 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 and the rate will not decline below this level. Distributions are payable July 10, 2009 to shareholders on record as of June 30, 2009.
Since inception Class A shareholders have received a total of $3.54 per share and Preferred shareholders have received a total of $2.22 per share inclusive of this distribution, for a combined total of $5.76 per share.
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. The Bank of Nova CI Financial Manulife Financial Scotia Income Fund Corp. TransAlta Corp Sun Life Financial CIBC IGM Financial Inc. Inc. TransCanada Corp National Bank of Power Financial Canada Corp. Royal Bank of Canada TSX 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: June 26, 2009 Record Date: June 30, 2009 Payable Date: July 10, 2009
Contacts: Prime Dividend Corp. Investor Relations 416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) www.primedividend.com
SOURCE: Prime Dividend Corp.
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