U.S. Dividend Growers Income Corp. Announces Exchange Ratios

CALGARY, March 12, 2015 /CNW/ - Middlefield Group, on behalf of U.S. Dividend Growers Income Corp. (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated February 25, 2015.

The Fund's investment objectives are to provide holders of shares with:

(i)   

stable monthly cash distributions and to grow distributions over time, and



(ii)

enhanced long-term total return through capital appreciation of the Fund's investment portfolio,

 

through an investment strategy which focuses on investing in securities of issuers that have exhibited strong dividend growth and that are organized in the United States or that derive a significant portion of their revenue or earnings from the United States.

The initial target distribution yield for the Fund is 5.0% per annum based on the original subscription price (or $0.04167 per share per month or $0.50 per share per annum).

The number of shares issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on March 12, 2015 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of shares and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.

NAME

TICKER

CUSIP

ISIN

VWAP

EXCHANGE
RATIO

Technology, Media & Telecommunications






AT&T Inc.

T

00206R102

US00206R1023

42.0283

4.20282

BCE Inc.

BCE

05534B760

CA05534B7604

53.7124

5.30624

CGI Group Inc.

GIB.A

39945C109

CA39945C1095

53.5046

5.35046

Cisco Systems Inc.

CSCO

17275R102

US17275R1023

36.4615

3.64614

International Business Machines Corp.

IBM

459200101

US4592001014

201.2933

20.12933

Rogers Communications Inc.

RCI.B

775109200

CA7751092007

42.9344

4.24544

TELUS Corporation

T

87971M103

CA87971M1032

42.4401

4.24401

Verizon Communications Inc.

VZ

92343V104

US92343V1044

61.0685

6.10684

Energy






ARC Resources Ltd.

ARX

00208D408

CA00208D4084

22.5525

2.25525

Baytex Energy Corp.

BTE

07317Q105

CA07317Q1054

18.2023

1.82023

Bonavista Energy Corp.

BNP

09784Y108

CA09784Y1088

6.4076

0.64076

Cameco Corporation

CCO

13321L108

CA13321L1085

18.0487

1.80487

Canadian Oil Sands Limited

COS

13643E105

CA13643E1051

9.7955

0.97955

Cenovus Energy Inc.

CVE

15135U109

CA15135U1093

21.8587

2.15925

Crescent Point Energy Corp.

CPG

22576C101

CA22576C1014

28.4140

2.84140

Enbridge Income Fund Holdings Inc.

ENF

29251R105

CA29251R1055

38.3381

3.83381

Encana Corporation

ECA

292505104

CA2925051047

14.3973

1.43273

Enerplus Corporation

ERF

292766102

CA2927661025

12.3623

1.23623

Ensign Energy Services Inc.

ESI

293570107

CA2935701078

9.4881

0.94881

Husky Energy Inc.

HSE

448055103

CA4480551031

26.4172

2.61172

Inter Pipeline Ltd.

IPL

45833V109

CA45833V1094

30.7798

3.07798

MEG Energy Corp.

MEG

552704108

CA5527041084

19.8307

1.98307

Mullen Group Ltd.

MTL

625284104

CA6252841045

20.3912

2.03912

Talisman Energy Inc.

TLM

87425E103

CA87425E1034

9.7457

0.97457

Tourmaline Oil Corp.

TOU

89156V106

CA89156V1067

37.5615

3.75615

Veresen Inc.

VSN

92340R106

CA92340R1064

14.1499

1.41499

Financials and Real Estate






Agellan Commercial Real Estate Investment Trust

ACR.UN

00844Y105

CA00844Y1051

9.1878

0.91878

American Hotel Income Properties REIT LP

HOT.UN

026695106

CA0266951064

10.8826

1.08826

Artis Real Estate Investment Trust

AX.UN

04315L105

CA04315L1058

14.6250

1.46250

Bank of Montreal

BMO

063671101

CA0636711016

75.8766

7.58766

The Bank of Nova Scotia

BNS

064149107

CA0641491075

63.5499

6.35499

Calloway Real Estate Investment Trust

CWT.UN

131253205

CA1312532056

29.1034

2.91034

Canadian Imperial Bank of Commerce

CM

136069101

CA1360691010

93.0167

9.30167

Canadian Real Estate Investment Trust

REF.UN

13650J104

CA13650J1049

44.6410

4.46410

Chartwell Retirement Residences

CSH.UN

16141A103

CA16141A1030

12.0009

1.20009

Cominar Real Estate Investment Trust

CUF.UN

199910100

CA1999101001

18.7826

1.87826

Crombie Real Estate Investment Trust

CRR.UN

227107109

CA2271071094

13.2378

1.32378

Dream Office Real Estate Investment Trust

D.UN

26153P104

CA26153P1045

26.0065

2.60065

First Capital Realty Inc.

FCR

31943B100

CA31943B1004

19.5173

1.95173

Great-West Lifeco Inc.

GWO

39138C106

CA39138C1068

35.1643

3.51643

Laurentian Bank of Canada

LB

51925D106

CA51925D1069

47.9433

4.79433

National Bank of Canada

NA

633067103

CA6330671034

46.5270

4.65270

Power Financial Corporation

PWF

73927C100

CA73927C1005

36.5827

3.65827

Royal Bank of Canada

RY

780087102

CA7800871021

76.3924

7.63924

Sun Life Financial Inc.

SLF

866796105

CA8667961053

39.4988

3.94988

The Toronto-Dominion Bank

TD

891160509

CA8911605092

53.8000

5.38000

Other Dividend Paying Securities






Algonquin Power & Utilities Corp.

AQN

015857105

CA0158571053

8.7877

0.87877

Barrick Gold Corp.

ABX

067901108

CA0679011084

13.8719

1.38719

Emera Incorporated

EMA

290876101

CA2908761018

40.9461

4.09461

Fortis Inc.

FTS

349553107

CA3495531079

38.7953

3.87953

Innergex Renewable Energy Inc.

INE

45790B104

CA45790B1040

11.5540

1.15540

Johnson & Johnson

JNJ

478160104

US4781601046

126.6152

12.66151

Kraft Foods Group Inc.

KRFT

50076Q106

US50076Q1067

78.3252

7.83251

Potash Corporation of Saskatchewan Inc.

POT

73755L107

CA73755L1076

42.1028

4.21028

Superior Plus Corp.

SPB

86828P103

CA86828P1036

13.6714

1.36714

 

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

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 U.S. Dividend Growers Income Corp.

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.


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