Prime Rate Plus Corp.: Regular Monthly Dividend Declaration
More News related to PPL
- PPL Electric Utilities Files Electricity Purchase Plan for 2011 and Beyond
- PPL's Presentation to be Webcast from Lehman Brothers Conference on Sept. 3
- PPL to Pay Quarterly Stock Dividends Oct. 1
- PPL Corporation Takes Major Step Forward in Landmark Agreement with Penobscot River Restoration Trust
- Prime Rate Plus Corp.: Regular Monthly Dividend Declaration
More News related to Press Releases
- Dillard's, Inc. Announces Travel Agency Closure
- CLO Systems to Exhibit at CEDIA EXPO, September 4-7, 2008 at BOOTH #1089
- American Airlines Seeks Government Approval to Defer Launch of Chicago to Beijing Service
- Most Gulf Coast Structures Not Safer Today Than They Were Three Years Ago, IBHS Says
- Zapata Delivers Record Cash Flow in Q2
TORONTO, ONTARIO -- (MARKET WIRE) -- 07/18/08 -- Prime Rate Plus Corp. ("Prime Plus") declares its regular monthly distribution of $0.08438 (6.75% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (4.75% as at July 15th) plus 2% annually. Prime Plus also declares its regular monthly distribution of $0.04583 (5.50% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. Distributions are payable August 8, 2008 to shareholders on record as of July 31, 2008.
Since inception Class A shareholders have received a total of $3.42 per share and Preferred shareholders have received a total of $1.93 per share inclusive of this distribution, for a combined total of $5.35 per share.
Prime Plus invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, Prime Plus will engage in a selective covered call writing program.
Distribution Details: Class A Share (PPL): $0.08438 Preferred Share (PPL.PR.A) $0.04583 Ex-Dividend Date: July 29, 2008 Record Date: July 31, 2008 Payable Date: August 8, 2008
Contacts: Prime Rate Plus Corp. Investor Relations (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) Website: www.primerateplus.com
Related Categories
Press ReleasesStocks Mentioned
-1.26Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
