CALGARY, April 19, 2013 /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, 2013 and will terminate on April 22, 2014. 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 6,500,000 units issued and outstanding as at April 16, 2013. The Fund may, during the 12 month period commencing April 23, 2013 purchase on the TSX up to 646,300 units, being 10% of the public float and may not, in any 30 day period, purchase more than 130,000 units, being 2% of the units issued and outstanding. The Fund will cancel all units purchased pursuant to the bid. Subject to receiving all necessary regulatory approvals, the Fund may, in lieu of canceling units acquired, hold the units in treasury for resale. Global Dividend Growers Income Fund believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.
Global Dividend Growers trades on the Toronto Stock Exchange under the symbol "GDG.UN".
SOURCE: Global Dividend Growers Income Fund
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