TORONTO, ONTARIO--(Marketwired - Aug. 19, 2015) - Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.06125 for each Class A share and $0.04167 for each Preferred share. Distributions are payable September 10, 2015 to shareholders on record as of August 31, 2015.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10% 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 August 31, 2015 will receive a dividend of $0.06125 per share based on the VWAP of $7.35 over the last 5 trading days in July, payable on September 10, 2015. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this new distribution policy.

Preferred shareholders continue to received prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $8.22 per share and Preferred shareholders have received a total of $5.30 per share inclusive of this distribution, for a combined total of $13.52 per unit.

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

Banks

Investment Management

Life Insurance

Utilities & Other

Bank of Montreal
Bank of Nova Scotia
CIBC
National Bank of Canada
Royal Bank of Canada
Toronto-Dominion Bank