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

Prime Dividend Corp.

February 17, 2010 16:00 ET

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

TORONTO, ONTARIO--(Marketwire - Feb. 17, 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 February 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 March 10, 2010 to shareholders on record as of February 26, 2010.

Since inception Class A shareholders have received a total of $4.04 per share and Preferred shareholders have received a total of $2.56 per share inclusive of this distribution, for a combined total of $6.60 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: February 24, 2010
Record Date: February 26, 2010
Payable Date: March 10, 2010

Contact Information

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