Prime Dividend Corp. Monthly Dividend Declaration
Prime Dividend Corp. (the "Company") announces its monthly distribution of $0.05325 for each Class A share and $0.06667 for each Preferred share.
Distribution Details
Distributions are payable shortly, and the Class A dividends are determined by applying a 10.00% annualized rate to 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 will receive a dividend of $0.05325 per share based on the VWAP.
Preferred Shareholder Benefits
Preferred shareholders will receive a return of prime plus 2.35%, ensuring a minimum rate of 5.00% with potential for a higher rate.
Historical Returns for Shareholders
Since inception, Class A shareholders have enjoyed total returns of $13.71 per share and Preferred shareholders have received $10.62 per share. This results in a combined total of $24.34 per share, showcasing the strong performance of the Corporation.
Investment Portfolio Overview
The Company continues to invest in a range of high-yielding Canadian companies across various sectors:
Banks: Bank of Montreal, Bank of Nova Scotia, CIBC, National Bank of Canada, Royal Bank of Canada, Toronto-Dominion Bank.
Investment Management: AGF Management Ltd., CI Financial Group, IGM Financial Inc.
Life Insurance: Great-West Lifeco Inc., Manulife Financial Corporation, Sun Life Financial Inc.
Utilities & Other: BCE Inc., TransAlta Corp., TC Energy Corp., Power Financial Corp., TMX Group Inc.
Contact Information
For investor inquiries, please contact Investor Relations at 1-877-478-2372 or locally at 416-304-4443. For more details, visit the corporate website or reach out via email at info@quadravest.com.
Frequently Asked Questions
What is the monthly dividend amount for Class A shares?
The monthly dividend for Class A shares is $0.05325.
When are the distributions payable?
Distributions are payable shortly to shareholders on record.
What determines the dividend for Class A shares?
The dividend is determined by a 10.00% annualized rate on the VWAP of shares over the last 5 trading days.
What are the returns for Preferred shareholders?
Preferred shareholders receive returns of prime plus 2.35% with a minimum rate of 5.00%.
How can I get in touch with investor relations?
Investors can contact Investor Relations at 1-877-478-2372 or by email at info@quadravest.com.
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