Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share
20 August 2024 - 11:00PM
Prime Dividend Corp. (The "Company") declares its monthly
distribution of $0.05325 for each Class A share and $0.06667 for
each Preferred share.
Distributions are payable September 10, 2024 to
shareholders on record as at August 30, 2024.
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 August 30, 2024 will receive a dividend
of $0.05325 per share based on the VWAP of $6.39 payable on
September 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
Since inception Class A shareholders have
received a total of $13.71 per share and Preferred shareholders
have received a total of $10.62 per share inclusive of this
distribution, for a combined total of $24.34.
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) |
$0.05325 |
|
| Preferred Share (PDV.PR.A) |
$0.06667 |
|
| Record Date: |
August 30,
2024 |
|
| Payable Date: |
September
10, 2024 |
|
|
Investor Relations: 1-877-478-2372 |
Local: 416-304-4443 |
www.dividend15.com |
info@quadravest.com |
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