CALGARY, April 20, 2016 /CNW/ - Global Dividend Growers Income Fund announced that it has filed a notice with the Toronto Stock Exchange (the "TSX") and received its approval to make a normal course issuer bid ("NCIB") for its units through the facilities of the TSX. This NCIB will commence on April 23, 2016 and will terminate on April 22, 2017. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its NCIB may be effected by the Fund.
The Fund had 9,612,986 units issued and outstanding as at April 12, 2016. The Fund may, during the 12 month period commencing April 23, 2016 purchase on the TSX up to 961,048 units, being 10% of the public float and may not, in any 30 day period, purchase more than 192,259 units, being 2% of the units issued and outstanding. The Fund will hold in treasury for resale all units purchased pursuant to the bid. As at April 12, 2016 the Fund had purchased 131,100 units at an average price of $11.86 per unit under its previously approved normal course issuer bid. The manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.
Global Dividend Growers trades on the Toronto Stock Exchange under the symbol "GDG.UN".
SOURCE Global Dividend Growers Income Fund
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