PDV Prime Dividend Corp

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 (2.25% as at October 15, 2009) 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 and the rate will not decline below this level. Distributions are payable November 10, 2009 to shareholders on record as of October 30, 2009.

Since inception Class A shareholders have received a total of $3.79 per share and Preferred shareholders have received a total of $2.39 per share inclusive of this distribution, for a combined total of $6.18 per share.

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

                            Investment                         Utilities &
        Banks               Management       Life Insurance      Other

                          AGF Management    Great-West Lifeco
   Bank of Montreal            Ltd.               Inc.          BCE Inc.
                           CI Financial         Manulife
The Bank of Nova Scotia    Income Fund      Financial Corp.  TransAlta Corp
                           IGM Financial        Sun Life       TransCanada
         CIBC                  Inc.          Financial Inc.       Corp
                                                             Power Financial
National Bank of Canada                                          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:
 Class A Share (PDV)                               $0.06250
 Preferred Share (PDV.PR.A)                        $0.04167
 Ex-Dividend Date:                                 October 28, 2009
 Record Date:                                      October 30, 2009
 Payable Date:                                     November 10, 2009

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