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 May 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. Distributions are payable June 10, 2010 to shareholders on record as of May 31, 2010.

Since inception Class A shareholders have received a total of $4.23 per share and Preferred shareholders have received a total of $2.68 per share inclusive of this distribution, for a combined total of $6.91 per share.

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

Investment                               Utilities &
Banks               Management          Life Insurance       Other

Bank of Montreal    AGF Management Ltd. Great-West Lifeco    BCE Inc.
Inc.
Bank of Nova Scotia CI Financial Corp.  Manulife Financial   TransAlta Corp
Corp.
CIBC                IGM Financial Inc.  Sun Life Financial   TransCanada
Inc.                 Corp
National Bank of                                             Power Financial
Canada                                                       Corp.
Royal Bank of                                                TMX Group Inc.
Canada
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:                                    May 27, 2010
Record Date:                                         May 31, 2010
Payable Date:                                        June 10, 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