Prime Dividend Corp. Monthly Dividend Announcement
Prime Dividend Corp. (the "Company") has declared its monthly distribution of $0.05325 for each Class A share and $0.06667 for each Preferred share.
Distribution Information
These distributions will be paid out soon. The dividends for Class A shares are calculated using a 10.00% annualized rate applied to the volume weighted average market price (VWAP) of the Class A shares over the last five trading days of the previous month. Consequently, Class A shareholders will receive a dividend of $0.05325 per share based on this VWAP.
Benefits for Preferred Shareholders
Preferred shareholders are set to receive returns of prime plus 2.35%, guaranteeing a minimum rate of 5.00%, with the possibility of earning a higher rate.
Historical Returns for Shareholders
Since its inception, Class A shareholders have achieved total returns of $13.71 per share, while Preferred shareholders have received $10.62 per share. Together, this amounts to a total of $24.34 per share, highlighting the Corporation's robust performance.
Overview of the Investment Portfolio
The Company continues to invest in a diverse array of high-yield Canadian companies across different 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
If you have any inquiries as an investor, please reach out to Investor Relations at 1-877-478-2372 or locally at 416-304-4443. For further details, you can visit the corporate website or contact us 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.
