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

TORONTO, ONTARIO -- (Marketwired) -- 10/19/16 -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.04742 for each Class A share and $0.04167 for each Preferred share. Distributions are payable November 10, 2016 to shareholders on record as at October 31, 2016.

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, 2016 will receive a dividend of $0.04742 per share based on the VWAP of $5.69 payable on November 10, 2016. 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 $8.89 per share and Preferred shareholders have received a total of $5.89 per share inclusive of this distribution, for a combined total of $14.78.

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

                       Investment
      Banks            Management       Life Insurance    Utilities & Other
 Bank of Montreal    AGF Management    Great-West Lifeco       BCE Inc.
                          Ltd.               Inc.
   Bank of Nova    CI Financial Corp.  Manulife Financial   TransAlta Corp
      Scotia                              Corporation
       CIBC        IGM Financial Inc.  Sun Life Financial  TransCanada Corp
                                             Inc.
 National Bank of                                           Power Financial
      Canada                                                    Corp.
   Royal Bank of                                            TMX Group Inc.
      Canada
 Toronto-Dominion
       Bank

Distribution Details

Class A Share (PDV)                            $0.04742

Preferred Share (PDV.PR.A)                     $0.04167

Ex-Dividend Date:                      October 27, 2016

Record Date:                           October 31, 2016

Payable Date:                         November 10, 2016

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

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