Prime Dividend Corp.
TSX : PDV
TSX : PDV.PR.A

Prime Dividend Corp.

October 20, 2009 09:00 ET

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

TORONTO, ONTARIO--(Marketwire – Oct. 20, 2009) - Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.06250 (5.00% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (2.25% as at October 15, 2009) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A and Preferred share payment of 5.00% is the minimum payment as per the prospectus and the rate will not decline below this level. Distributions are payable November 10, 2009 to shareholders on record as of October 30, 2009.

Since inception Class A shareholders have received a total of $3.79 per share and Preferred shareholders have received a total of $2.39 per share inclusive of this distribution, for a combined total of $6.18 per share.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:

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

Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value.

 Distribution Details: 
 Class A Share (PDV)                        $0.06250
 Preferred Share (PDV.PR.A)                        $0.04167
 Ex-Dividend Date:                        October 28, 2009
 Record Date:                        October 30, 2009
 Payable Date:                        November 10, 2009

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    www.primedividend.com