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

TORONTO, ONTARIO -- (Marketwired) -- 02/16/17 -- Prime Dividend Corp. (The "Company") declares its monthly distribution of $0.06133 for each Class A share and $0.04167 for each Preferred share. Distributions are payable March 10, 2017 to shareholders on record as at February 28, 2017.

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 February 28, 2017 will receive a dividend of $0.06133 per share based on the VWAP of $7.36 payable on March 10, 2017. 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 $9.11 per share and Preferred shareholders have received a total of $6.06 per share inclusive of this distribution, for a combined total of $15.17.

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

       Banks            Investment       Life Insurance   Utilities & Other 
 Bank of Montreal       Management      Great-West Lifeco      BCE Inc.     
Bank of Nova Scotia   AGF Management          Inc.          TransAlta Corp  
       CIBC                Ltd.        Manulife Financial  TransCanada Corp 
  National Bank of  CI Financial Corp.     Corporation      Power Financial 
       Canada       IGM Financial Inc. Sun Life Financial        Corp.      
   Royal Bank of                              Inc.          TMX Group Inc.  
       Canada                                                               
  Toronto-Dominion                                                          
        Bank                                                                
                                                                            
Distribution Details                                                        
                                                                            
Class A Share (PDV)                                                 $0.06133
                                                                            
Preferred Share (PDV.PR.A)                                          $0.04167
                                                                            
Ex-Dividend Date:                                          February 24, 2017
                                                                            
Record Date:                                               February 28, 2017
                                                                            
Payable Date:                                                 March 10, 2017

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

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