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

Prime Dividend Corp.

February 18, 2009 17:10 ET

Prime Dividend Corp.: Regular Monthly Dividend Declaration for Preferred Share

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate (3.00% as at February 13th) plus 0.75% annually. An annual Preferred share payment of 5.00% is the minimum payment as per the prospectus and the rate will not decline below this level. Distributions are payable March 10, 2009 to shareholders on record as of February 27, 2009. There will not be a distribution paid to the Class A shares for February 27, 2009 as per the Prospectus which states no regular monthly dividends or other distributions will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00. The net asset value as of February 13, 2009 was $13.72.

Since inception Class A shareholders have received a total of $3.42 per share and Preferred shareholders have received a total of $2.06 per share inclusive of this distribution, for a combined total of $5.48 per share.

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



Investment
Banks Management Life Insurance Utilities & Other

Bank of Great-West Lifeco
Montreal AGF Management Ltd. Inc. BCE Inc.
The Bank of CI Financial Income Manulife Financial
Nova Scotia Fund Corp. TransAlta Corp
Sun Life Financial
CIBC IGM Financial Inc. Inc. TransCanada Corp
National Bank
of Canada Power Financial Corp.
Royal Bank of
Canada TSX 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:

Preferred Share (PDV.PR.A) $0.04167

Ex-Dividend Date: February 25, 2009

Record Date: February 27, 2009

Payable Date: March 10, 2009


Contact Information

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