CALGARY, Nov. 2, 2016 /CNW/ - Global Healthcare Dividend 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"). Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX. This NCIB will commence on November 7, 2016 and will terminate on November 6, 2017. 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 12,646,387 units issued and outstanding as at October 25, 2016. The Fund may, during the 12 month period commencing November 7, 2016 purchase on the TSX up to 1,264,094 units, being 10% of the public float and may not, in any 30 day period, purchase more than 252,927 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 October 25, 2016 the Fund had purchased 125,500 units at an average price of $11.02 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 Healthcare Dividend Fund trades on the Toronto Stock Exchange under the symbol "GHC.UN".
SOURCE Global Healthcare Dividend Fund
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