Prime Dividend Corp.

Prime Dividend Corp.

March 18, 2009 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - March 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 (2.50% as at March 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 April 9, 2009 to shareholders on record as of March 31, 2009. There will not be a distribution paid to the Class A shares for March 31, 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 March 13, 2009 was $13.20.

Since inception Class A shareholders have received a total of $3.42 per share and Preferred shareholders have received a total of $2.10 per share inclusive of this distribution, for a combined total of $5.52 per share.

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

Banks Investment Life Utilities
Management Insurance & Other

Bank of Montreal AGF Management Ltd. Great-West BCE Inc.
Lifeco Inc.

The Bank of CI Financial Manulife TransAlta Corp
Nova Scotia Income Fund Financial Corp.

CIBC IGM Financial Inc. Sun Life TransCanada Corp
Financial Inc.

National Bank Power Financial
of Canada Corp.

Royal Bank TSX Group Inc.
of Canada

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: March 27, 2009

Record Date: March 31, 2009

Payable Date: April 9, 2009

Contact Information

  • Prime Dividend Corp.
    Investor Relations
    (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)