Prime Dividend Corp.

Prime Dividend Corp.

February 22, 2008 10:43 ET

Prime Dividend Corp.: Financial Results to November 30, 2007

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2008) - Prime Dividend Corp. ("Prime Dividend") announces its annual financial results for the year ending November 30, 2007.

Distributions to both Class A and Preferred shareholders were made at the Canadian prime rate plus formula for each class of shares. The Canadian Prime Rate began the year at 6.00% and increased by 0.25% to 6.25% as at November 30, 2007, resulting in increased monthly distributions for both classes of shares. The net asset value per unit (one Preferred Share and one Class A share) increased by $0.78 to $25.42 as at November 30, 2007.

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

Banks Investment Management Life Insurance & Other

Bank of Montreal AGF Management Ltd. Lifeco Inc. BCE Inc.

The Bank of CI Financial Manulife TransAlta
Nova Scotia Income Fund Financial Corp. Corp

Sun Life TransCanada
CIBC IGM Financial Inc. Financial Inc. Corp

National Bank of Power
Canada Financial

Royal Bank of TSX Group
Canada Inc.


Selected Financial Information from the Statement of Financial Operations:
For the year ending November 30, 2007

($ Millions)

Income 1.918
Expenses (0.755)
Net investment income 1.163
Realized option premiums and gain on sale of investments 2.654
Change in unrealized appreciation of investments 2.659
Increase in net assets from operations before distributions 6.476

Comparative financial information is available in documents filed on

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    (416) 304-4443
    Toll free: 1-877-4-Quadra (1-877-478-2372)