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


TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06367 for each Class A share and $0.04167 for each Preferred share. Distributions are payable September 10, 2018 to shareholders on record as at August 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 August 31, 2018 will receive a dividend of $0.06367 per share based on the VWAP of $7.64 payable on September 10, 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 $10.26 per share and Preferred shareholders have received a total of $6.81 per share inclusive of this distribution, for a combined total of $17.07.

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

Banks             Investment Management             Life Insurance             Utilities & Other
Bank of Montreal
Bank of Nova Scotia
National Bank of Canada
Royal Bank of Canada
Toronto-Dominion Bank
    AGF Management Ltd.
CI Financial Corp.
IGM Financial Inc.

    Great-West Lifeco Inc.
Manulife Financial Corporation
Sun Life Financial Inc.

    BCE Inc.
TransAlta Corp
TransCanada Corp
Power Financial Corp.
TMX Group Inc.

Distribution Details        
Class A Share (PDV)
Preferred Share (PDV.PR.A)
Ex-Dividend Date:
Record Date:
Payable Date:
August 30, 2018
August 31, 2018
September 10, 2018

Investor Relations: 1-877-478-2372       Local: 416-304-4443

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