OVERVIEW

CORE HOLDINGS

Prime Dividend Corp. is an investment corporation designed to pay floating monthly cash dividends. The Company invests in a portfolio of high quality dividend yielding Canadian companies. The Corporation offers two classes of floating rate securities, a Class A (PDV) and a Preferred (PDV.PR.A).

 

 

To view a Split Share Fund overview please click here.

 

 

AGF Management Ltd.

Bank of Montreal

Bank of Nova Scotia

BCE Inc.

Canadian Imperial Bank of Commerce

CI Financial Corp.

Great-West Lifeco Inc.

IGM Financial Inc.

Manulife Financial Corporation

National Bank of Canada

Power Financial Corp.

Royal Bank of Canada

Sun Life Financial Inc.

TMX Group Inc.

Toronto-Dominion Bank

TransAlta Corporation

TC Energy Corporation
 

Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. Top holdings by weight may include holdings other than the core holdings as up to 20% of the net asset value may be invested in equity securities of issuers in the financial services or utilities sectors in Canada or the United States, other than the core holdings (as per the Prospectus).

OBJECTIVES

SHARE HIGHLIGHTS

Preferred Shares:

 

(i) to provide holders of the Preferred Shares with cumulative preferential floating rate monthly cash dividends at an annual rate equal to Prime Rate plus 2.35% (min 5%, max 8%) based on $10 redemption value, and; (ii) to pay the holders of the Preferred Shares the $10 redemption value on or about the termination date of December 1, 2023 (subject to further 5 year extensions thereafter).

 

Class A Shares:

 

(i) to provide holders of the Class A Shares with regular monthly cash distributions currently targeted to be at a rate of 10% annualized based on the volume weighted average market price of the Class A shares for last 5 trading days of the preceding month, and;
(ii) on or about the December 1, 2023 termination date (subject to further 5 year extensions thereafter), to pay the holders of Class A Shares at least the original issue price of those shares.

​Preferred Shares:

 

  • Cumulative monthly floating rate dividends

  • Quality investment in Canadian companies

  • Strong downside protection and asset coverage

  • Pfd-3 (high) DBRS Rating  - June 21/19

  • Attractive Yield

  • Non-Callable

 

Class A Shares:

 

  • Monthly floating rate cash distributions

  • Quality investment in Canadian companies

  • Capital appreciation potential

  • Attractive alternative to other income vehicles

  • Tax efficient distributions

TOP HOLDINGS

VALUATION

Holdings Sorted by weight as at October 31, 2019:

TMX Group Ltd
Toronto-Dominion Bank
National Bank of Canada
TC Energy Corp
Manulife Financial Corp
Canadian Imperial Bank of Commerce
Power Financial Corp
Sun Life Financial Inc
Great-West Lifeco Inc
Royal Bank of Canada
BCE Inc
Bank of Nova Scotia
IGM Financial Inc
CI Financial Corp
Bank of Montreal
AGF Management Ltd
TransAlta Corp

November 15, 2019

NAV Pre-Distribution:

$17.63

Distribution:

-

NAV Net of Distribution:

$17.63

NAV + Total Distributions Paid to Date:

$36.17

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200 Front Street West

Suite 2510, P.O. Box 51

Toronto, Ontario M5V 3K2

 Investor Relations: 1-877-478-2372 

 Local Investor Relations: 416-304-4443

 Main telephone: 416-304-4440

 Fax: 416-304-4441

 

Questions may be directed to 

info@quadravest.com

or submitted in the fields below: