An anonymous director reports
PRIME DIVIDEND CORP. MONTHLY DIVIDEND DECLARATION FOR CLASS A & PREFERRED SHARE
Prime Dividend Corp. has declared its monthly distribution of 4.533 cents for each Class A share and 6.667 cents for each preferred share. Distributions are payable July 10, 2023, to shareholders on record as at June 30, 2023.
Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying an annualized rate of 10 per cent on the volume weighted average market price (VWAP) of the Class A shares over the last five trading days of the preceding month. As a result, Class A shareholders of record on June 30, 2023, will receive a dividend of 4.533 cents per share based on the VWAP of $5.44, payable on July 10, 2023. The yield will remain stable at 10 per cent (based on the VWAP) under this distribution policy.
Preferred shareholders will receive prime plus 2.35 per cent with a minimum rate of 5 per cent and a maximum rate of 8 per cent.
Since inception, Class A shareholders have received a total of $13.21 per share and preferred shareholders have received a total of $9.69 per share, inclusive of this distribution, for a combined total of $22.90.
The company invests in a portfolio of high-yielding Canadian companies as shown in the attached table.
Distribution details
Class A share: 4.533 cents
Preferred share: 6.667 cents
Record date: June 30, 2023
Payable date: July 10, 2023
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