PRIME DIVIDEND CORP.: Regular Monthly Dividend Declaration for Class A and Preferred Share
March 18 2010 - 9:00AM
Marketwired
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 March 15, 2010) 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 April 9, 2010 to shareholders on
record as of March 31, 2010.
Since inception Class A shareholders have received a total of
$4.10 per share and Preferred shareholders have received a total of
$2.60 per share inclusive of this distribution, for a combined
total of $6.70 per share.
Prime Dividend invests in a portfolio of high yielding Canadian
Companies as follows:
Utilities &
Banks Investment Management Life Insurance Other
Great-West
Bank of Montreal AGF Management Ltd. Lifeco Inc. BCE Inc.
The Bank of Nova CI Financial Income Manulife
Scotia Fund Financial Corp. TransAlta Corp
Sun Life
CIBC IGM Financial Inc. Financial Inc. TransCanada Corp
National Bank of Power Financial
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: March 29, 2010
Record Date: March 31, 2010
Payable Date: April 9, 2010
Contacts: Prime Dividend Corp. Investor Relations 416-304-4443
or Toll Free at 1-877-4-Quadra (1-877-478-2372)
www.primedividend.com
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