CORRECTION FROM SOURCE-Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share

   The following corrects and replaces the release sent on July 20, 2010 at 9:01 am ET. The record date stated in the first paragraph and in the "Distribution Details" table of the release should have read "July 30, 2010" rather than "June 30, 2010".

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 (2.50% as at July 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 August 10, 2010 to shareholders on record as of July 30, 2010.

Since inception Class A shareholders have received a total of $4.36 per share and Preferred shareholders have received a total of $2.76 per share inclusive of this distribution, for a combined total of $7.12 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.
                                       Manulife Financial
Bank of Nova 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:                             July 28, 2010
Record Date:                                  July 30, 2010
Payable Date:                                 August 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