TORONTO, April 17, 2014 /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, 2014 and will terminate on April 22, 2015. 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 11,568,975 units issued and outstanding as at April 10, 2014. The Fund may, during the 12 month period commencing April 23, 2014 purchase on the TSX up to 1,152,247 units, being 10% of the public float and may not, in any 30 day period, purchase more than 231,379 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 10, 2014 the Fund had purchased 443,300 units at an average price of $10.46 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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