An anonymous director reports

PRIME DIVIDEND CORP. MONTHLY DIVIDEND DECLARATION FOR CLASS A & PREFERRED SHARE

Prime Dividend Corp. has declared its monthly distribution of 4.658 cents for each Class A share and 6.667 cents for each preferred share. Distributions are payable March 8, 2024, to shareholders on record as at Feb. 29, 2024.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10-per-cent annualized rate 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 Feb. 29, 2024, will receive a dividend of 4.658 cents per share based on the VWAP of $6.59 payable on March 8, 2024. 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 $13.39 per share and preferred shareholders have received a total of $10.22 per share, inclusive of this distribution, for a combined total of $23.62.

The company invests in a portfolio of high-yielding Canadian companies as noted herein.