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

Prime Dividend Corp.

October 20, 2010 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - Oct. 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 (3.00% as at October 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 November 10, 2010 to shareholders on record as of October 29, 2010.

Since inception Class A shareholders have received a total of $4.54 per share and Preferred shareholders have received a total of $2.89 per share inclusive of this distribution, for a combined total of $7.43 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: October 27, 2010
Record Date: October 29, 2010
Payable Date: November 10, 2010

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
    www.primedividend.com