{"id":401914,"date":"2020-12-17T09:03:36","date_gmt":"2020-12-17T14:03:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401914"},"modified":"2020-12-17T09:03:36","modified_gmt":"2020-12-17T14:03:36","slug":"prime-dividend-corp-monthly-dividend-declaration-for-class-a-preferred-share-5","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/prime-dividend-corp-monthly-dividend-declaration-for-class-a-preferred-share-5\/","title":{"rendered":"Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share"},"content":{"rendered":"
\n

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Prime Dividend Corp. (The “Company”) declares its monthly distribution of $0.04717 for each Class A share and $0.04167 for each Preferred share. Distributions are payable January 8, 2021 to shareholders on record as at December 31, 2020.<\/p>\n

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 December 31, 2020 will receive a dividend of $0.04717 per share based on the VWAP of $5.66 payable on January 8, 2021. The yield will remain stable at 10.00% (based on the\u00a0VWAP) under this distribution policy.<\/p>\n

Preferred shareholders will receive prime plus 2.35% with a minimum rate of 5.00%.<\/p>\n

Since inception Class A shareholders have received a total of $11.48 per share and Preferred shareholders have received a total of $8.14 per share inclusive of this distribution, for a combined total\u00a0\ufeffof $19.62.<\/p>\n

The Company invests in a portfolio of high yielding Canadian Companies as follows:<\/p>\n\n\n\n\n\n\n\n\n
\n Banks<\/strong>\n <\/td>\n\n Investment Management<\/strong>\n <\/td>\n\n Life Insurance<\/strong>\n <\/td>\n\n Utilities & Other<\/strong>\n <\/td>\n<\/tr>\n
Bank of Montreal<\/td>\nAGF Management Ltd.<\/td>\nGreat-West Lifeco Inc.<\/td>\nBCE Inc.<\/td>\n<\/tr>\n
Bank of Nova Scotia<\/td>\nCI Financial Corp.<\/td>\nManulife Financial Corporation<\/td>\nTransAlta Corp.<\/td>\n<\/tr>\n
CIBC<\/td>\nIGM Financial Inc.<\/td>\nSun Life Financial Inc.<\/td>\nTC Energy Corp.<\/td>\n<\/tr>\n
National Bank of Canada<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nPower Financial Corp.<\/td>\n<\/tr>\n
Royal Bank of Canada<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTMX Group Inc.<\/td>\n<\/tr>\n
Toronto-Dominion Bank<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n
\n
\n Distribution Details<\/strong>
\n <\/em>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\n Class A Share (PDV)<\/strong>\n <\/td>\n\n $0.04717<\/strong>\n <\/td>\n<\/tr>\n
\n Preferred Share (PDV.PR.A)<\/strong>\n <\/td>\n\n $0.04167<\/strong>\n <\/td>\n<\/tr>\n
\n Ex-Dividend Date:\u00a0<\/strong>\n <\/td>\n\n December 30, 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Record Date:<\/strong>\n <\/td>\n\n December 31, 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Payable Date:<\/strong>\n <\/td>\n\n January 8, 2021<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.primedividend.com<\/a>
info@quadravest.com<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Prime Dividend Corp. (The “Company”) declares its monthly distribution of $0.04717 for each Class A share and $0.04167 for each Preferred share. Distributions are payable January 8, 2021 to shareholders on record as at December 31, 2020. 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 December 31, 2020 will receive a dividend of $0.04717 per share based on the VWAP of $5.66 payable … <\/p>\n

Continue reading “Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401914","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPrime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/prime-dividend-corp-monthly-dividend-declaration-for-class-a-preferred-share-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime Dividend Corp. 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