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

Prime Dividend Corp.

December 20, 2010 09:05 ET

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

TORONTO, ONTARIO--(Marketwire - Dec. 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 December 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 January 10, 2011 to shareholders on record as of December 31, 2010.

Since inception Class A shareholders have received a total of $4.67 per share and Preferred shareholders have received a total of $2.97 per share inclusive of this distribution, for a combined total of $7.64 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: December 29, 2010
Record Date: December 31, 2010
Payable Date: January 10, 2011

Contact Information

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