TORONTO, ONTARIO--(Marketwired - April 20, 2015) - Prime Dividend Corp. (the "Company") declares its monthly distribution of $0.06350 for each Class A share and $0.04167 for each Preferred share. Distributions are payable May 8, 2015 to shareholders on record as of April 30, 2015.

Under the distribution policy announced on July 17, 2014, the monthly dividend payable on the Class A shares is determined by applying a 10% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 5 trading days of the preceding month. As a result, Class A shareholders of record on April 30, 2015 will receive a dividend of $0.06350 per share based on the VWAP of $7.62 over the last 5 trading days in March, payable on May 8, 2015. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this new distribution policy.

Preferred shareholders continue to received prime plus 0.75% with a minimum rate of 5% annually.

Since inception Class A shareholders have received a total of $7.96 per share and Preferred shareholders have received a total of $5.14 per share inclusive of this distribution, for a combined total of $13.10 per unit.

The Company invests in a portfolio of high yielding Canadian Companies as follows:

Banks Investment Management Life Insurance Utilities & Other
Bank of Montreal AGF Management Ltd. Great-West Lifeco Inc. BCE Inc.
Bank of Nova Scotia CI Financial Corp. Manulife Financial Corporation TransAlta Corp
CIBC IGM Financial Inc. Sun Life Financial Inc. TransCanada Corp
National Bank of Canada Power Financial Corp.
Royal Bank of Canada TMX Group Inc.
Toronto-Dominion Bank
Distribution Details:
Class A Share (PDV) $0.06350
Preferred Share (PDV.PR.A) $0.04167
Ex-Dividend Date: April 28, 2015
Record Date: April 30, 2015
Payable Date: May 8, 2015

Contact Information:

Prime Dividend Corp.
Investor Relations
Toll free at 1-877-4-Quadra (1-877-478-2372)