CALGARY, Jan. 25, 2013 /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 an initial public offering of units at a
price of $10.00 per unit.
Global Dividend Growers Income Fund has been designed to provide investors with a low-cost investment in
global issuers that have exhibited a history of strong dividend growth.
A portion of the Fund's assets will be invested in an equally-weighted
passively managed portfolio consisting of the equity securities of the
20 largest publicly-listed issuers by market capitalization globally
which have exhibited cumulative dividend growth of at least 10% over
the last five years as well as an indicated dividend yield of at least
3%. The remainder of the Fund's assets will be invested in an actively
managed diversified portfolio primarily comprised of global issuers
which have exhibited strong dividend growth.
According to Ned Davis Research Inc., between January 1972 through
December 2012, dividend growers in the S&P 500 Index have achieved a
higher annualized total return of 9.5%, versus 1.6% from non-dividend
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 initial target distribution yield for the Fund is 6.0% per annum
based on the original subscription price (or $0.05 per unit per month
or $0.60 per unit per annum).
Prospective purchasers investing in Global Dividend Growers Income Fund will have the option of paying for units in cash or by exchanging
securities of issuers listed in the preliminary prospectus.
Prospective purchasers under the exchange option will be required to
deposit their exchange eligible securities prior to 5:00 p.m. (Toronto
time) on February 21, 2013 in the manner described in the preliminary
Middlefield Capital Corporation will act as the investment advisor to
The syndicate of agents is being co-led by CIBC and RBC Capital Markets
and includes Scotiabank, TD Securities Inc., BMO Capital Markets,
National Bank Financial 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.
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 any of the agents named above. 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:
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.