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

Prime Dividend Corp.

April 20, 2009 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - April 20, 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 April 15th) 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 May 8, 2009 to shareholders on record as of April 30, 2009. There will not be a distribution paid to the Class A shares for April 30, 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 April 15, 2009 was $14.81.

Since inception Class A shareholders have received a total of $3.42 per share and Preferred shareholders have received a total of $2.14 per share inclusive of this distribution, for a combined total of $5.56 per share.

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



Investment Life Utilities
Banks Management Insurance & Other

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

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

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

National Bank Power
of Canada 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: April 28, 2009
Record Date: April 30, 2009
Payable Date: May 8, 2009


Contact Information

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