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

Prime Dividend Corp.

May 18, 2011 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - May 18, 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 May 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 June 10, 2011 to shareholders on record as of May 31, 2011.

Since inception Class A shareholders have received a total of $4.98 per share and Preferred shareholders have received a total of $3.18 per share inclusive of this distribution, for a combined total of $8.16 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: May 27, 2011
Record Date: May 31, 2011
Payable Date: June 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