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

Prime Dividend Corp.

May 19, 2010 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - May 19, 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 May 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 June 10, 2010 to shareholders on record as of May 31, 2010.

Since inception Class A shareholders have received a total of $4.23 per share and Preferred shareholders have received a total of $2.68 per share inclusive of this distribution, for a combined total of $6.91 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: May 27, 2010
Record Date: May 31, 2010
Payable Date: June 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