Global Dividend Growers Income Fund Announces Pricing of Treasury Offering and Files Final Prospectus
TORONTO, Aug. 29, 2013 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce that it has filed a final prospectus with respect to a treasury offering of units of the Fund, with a maximum offering size of approximately $50 million (5,000,000 units). The offering price is $10.04 per unit and was established so as to be at least equal to the net asset value per unit plus expenses of the offering on the date of pricing to ensure that existing unitholders are not diluted. Closing of the offering is expected to occur on or about September 9, 2013.
Global Dividend Growers Income Fund is designed to provide investors with a low-cost investment in global issuers that have exhibited a history of strong dividend growth.
The Fund's investment objectives are to:
(i) provide holders of units with stable monthly cash distributions and to grow distributions over time, and
(ii) enhance long-term total return through capital appreciation of the Fund's investment portfolio,
through an investment strategy which combines passive and active portfolio management and entails investing primarily in securities of global, including Canadian and U.S., issuers which have exhibited strong dividend growth.
The Fund's target distribution amount for the period ending March 31, 2014 is $0.05 per unit per month (corresponding to an annualized distribution of $0.60 per unit per annum).
Middlefield Capital Corporation acts as the investment advisor to the Fund.
Units trade under the TSX symbol "GDG.UN".
The syndicate of agents is being co-led by CIBC and RBC Capital Markets and includes Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P., Mackie Research Capital Corporation, Middlefield Capital Corporation and Dundee Securities Ltd.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE Global Dividend Growers Income FundFor further information:
please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868