CALGARY, Feb. 12, 2014 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce a 10% increase in the Fund's targeted annual distribution rate for the 12 months ending March 31, 2015 from $0.60/unit to $0.66/unit, paid monthly. The increased distribution rate, which will take effect for unitholders of record as of April 30, 2014, represents a yield of approximately 6.1% per annum based on the Fund's closing price on the Toronto Stock Exchange on Monday, February 10, 2014, of $10.85 per unit. The distribution increase is supported largely by dividend growth from the Fund's portfolio companies. Pursuant to the increase, the distributions for the second quarter of 2014 will be payable to unitholders of the Fund as follows:
|Record Date||Payable Date|| Distribution
Per Trust Unit
|April 30, 2014||May 15, 2014||$0.055|
|May 31, 2014||June 13, 2014||$0.055|
|June 30, 2014||July 15, 2014||$0.055|
In accordance with the Fund's declaration of trust, a targeted distribution amount for the Fund will be determined and announced at least annually.
The Fund's units trade on the Toronto Stock Exchange under the symbol GDG.UN
This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund's portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described under "Risk Factors" in the Fund's prospectus dated August 29, 2013 and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.
SOURCE: Global Dividend Growers Income Fund
For further information:
Nancy Tham, Managing Director, Sales and Marketing
416.847.5349 | 1.888.890.1868 | www.middlefield.com