Prime Dividend Corp. Monthly Dividend Declaration for Class A & Preferred Share

TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06042 for each Class A share and $0.04167 for each Preferred share. Distributions are payable November 9, 2018 to shareholders on record as at October 31, 2018.

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 October 31, 2018 will receive a dividend of $0.06042 per share based on the VWAP of $7.25 payable on November 9, 2018. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.

Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $10.38 per share and Preferred shareholders have received a total of $6.89 per share inclusive of this distribution, for a combined total of $17.27.

The Company invests in a portfolio of high yielding Canadian Companies as follows:

Distribution Details                

Investor Relations: 1-877-478-2372                 
Local: 416-304-4443                                                                         
www.primedividend.com                                                                         
[email protected]