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

Prime Dividend Corp.

April 19, 2011 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - April 19, 2011) - 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 April 15, 2011) 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 May 10, 2011 to shareholders on record as of April 29, 2011.

Since inception Class A shareholders have received a total of $4.92 per share and Preferred shareholders have received a total of $3.14 per share inclusive of this distribution, for a combined total of $8.06 per share.

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

BanksInvestment ManagementLife InsuranceUtilities & Other
Bank of MontrealAGF Management Ltd.Great-West Lifeco Inc.BCE Inc.
Bank of Nova ScotiaCI Financial Corp.Manulife Financial Corp.TransAlta Corp.
CIBCIGM Financial Inc.Sun Life Financial Inc.TransCanada Corp.
National Bank of CanadaPower Financial Corp.
Royal Bank of CanadaTMX 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:April 27, 2011
Record Date:April 29, 2011
Payable Date:May 10, 2011

Contact Information

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