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

Prime Dividend Corp.

April 20, 2010 09:01 ET

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

TORONTO, ONTARIO--(Marketwire - April 20, 2010) - 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 April 15, 2010) 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. Distributions are payable May 10, 2010 to shareholders on record as of April 30, 2010.

Since inception Class A shareholders have received a total of $4.17 per share and Preferred shareholders have received a total of $2.64 per share inclusive of this distribution, for a combined total of $6.81 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.
 Bank of Nova Scotia CI Financial Corp. 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     TMX 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: April 28, 2010
Record Date: April 30, 2010
Payable Date: May 10, 2010

Contact Information

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