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 April 13, 2012) 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 May 10, 2012 to shareholders on record as of April 30, 2012.

Since inception Class A shareholders have received a total of $5.67 per share and Preferred shareholders have received a total of $3.64 per share inclusive of this distribution, for a combined total of $9.31 per share.

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


                        Investment                                          
       Banks            Management       Life Insurance    Utilities & Other
                                                                            
                                        Great-West Lifeco                   
 Bank of Montreal  AGF Management Ltd.        Inc.             BCE Inc.     
   Bank of Nova                        Manulife Financial                   
       Scotia       CI Financial Corp.        Corp.         TransAlta Corp  
                                       Sun Life Financial                   
       CIBC         IGM Financial Inc.        Inc.         TransCanada Corp 
 National Bank of                                           Power Financial 
       Canada                                                    Corp.      
   Royal Bank of                                                            
       Canada                                               TMX 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:              April 26, 2012                           
   Record Date:                   April 30, 2012                           
   Payable Date:                  May 10, 2012

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

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