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

Prime Dividend Corp.

January 20, 2010 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - Jan. 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 January 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 and the rate will not decline below this level. Distributions are payable February 10, 2010 to shareholders on record as of January 29, 2010.

Since inception Class A shareholders have received a total of $3.98 per share and Preferred shareholders have received a total of $2.51 per share inclusive of this distribution, for a combined total of $6.50 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:                        January 27, 2010
Record Date:                        January 29, 2010
Payable Date:                        February 10, 2010

Contact Information

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