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 (3.00% as at October 15, 2011) 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 November 10, 2011 to shareholders on record as of October 31, 2011.

Since inception Class A shareholders have received a total of $5.29 per share and Preferred shareholders have received a total of $3.39 per share inclusive of this distribution, for a combined total of $8.68 per share.

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


Banks               Investment         Life Insurance       Utilities &     
                    Management                              Other           
                                                                            
Bank of Montreal    AGF Management     Great-West Lifeco    BCE Inc.        
                    Ltd.               Inc.                                 
Bank of Nova Scotia CI Financial Corp. Manulife Financial   TransAlta Corp  
                                       Corp.                                
CIBC                IGM Financial Inc. Sun Life Financial   TransCanada Corp
                                       Inc.                                 
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:                  October 27, 2011                         
Record Date:                       October 31, 2011                         
Payable Date:                      November 10, 2011

Contacts: Investor Relations 416-304-4443, Toll free at 1-877-4-Quadra (1-877-478-2372)www.primedividend.com

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