PDV Prime Dividend Corp

Prime Dividend Corp. ("Prime Dividend") announces its semi-annual financial
results for the six months ending May 31, 2009. 


The six month period ending May 31, 2009 was one of the most tumultuous periods
in financial market history. Against this backdrop, the market prices of the
stocks in the portfolio mirrored this activity reaching lows in early March but
recovering significantly by the end of May. The net asset value as at May 31
ended $1.73 higher to $16.29 per unit over the six month period. Preferred
shareholders received all distributions at their fixed rate for a total of
$0.25002 per share. As a result of the net asset value remaining below $15 for
most of the period, only one distribution for a total of $0.625 was made to
Class A shareholders. However, subsequent to the end of the period, Class A
distributions had resumed as the net asset value per unit had increased beyond
the $15 threshold. 


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




                  Investment                                Utilities &
Banks              Management          Life Insurance        Other

Bank of           AGF Management Ltd.  Great-West Lifeco    BCE Inc.
 Montreal                               Inc.

The Bank of       CI Financial         Manulife Financial   TransAlta Corp.
 Nova Scotia       Income Fund          Corp.

CIBC              IGM Financial Inc.   Sun Life Financial   TransCanada 
                                        Inc.                 Corp.

National Bank                                               Power Financial
 of Canada                                                   Corp.

Royal Bank of                                               TSX Group Inc.
 Canada

Toronto-Dominion
 Bank

Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2009 
                                                                ($ Millions)
Income                                                                0.899
Expenses                                                             (0.216)
                                                                ------------
Net investment income                                                 0.683
Realized option premiums and gain (loss) on sale of investments      (2.015)
Change in unrealized appreciation of investments                      5.255
                                                                ------------
Increase in net assets from operations before distributions           3.923



Comparative financial information is available in documents filed on www.sedar.com.

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