Global Dividend Growers Income Fund Announces Treasury Offering

CALGARY, Feb. 24, 2014 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce that it has filed a preliminary prospectus in relation to a treasury offering of units of the Fund.

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.

On February 12, 2014, the Fund increased its target distribution rate by 10%, which will begin with the distribution to unitholders of record on April 30, 2014. As a result, the Fund's target distribution amount for the 12-month period ending March 31, 2015 is $0.055 per unit per month (corresponding to an annualized distribution of $0.66 per unit per annum).

The offering price will be announced in the final prospectus, and will be at least equal to the net asset value per unit plus costs of the offering on the date of pricing to ensure holders of existing units are not diluted.

Middlefield Capital Corporation acts as the investment advisor to the Fund.

The syndicate of agents is co-led by CIBC and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd, Middlefield Capital Corporation, Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from members of the syndicate of agents named above or from your IIROC registered financial advisor using the contact information for such agent or IIROC advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE Global Dividend Growers Income Fund

For further information:

For 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.