CALGARY, Aug. 16, 2017 /CNW/ - Global Real Estate Dividend Growers Corp. 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 August 21, 2017 and will terminate on August 20, 2018.
The Fund had 7,491,096 equity shares issued and outstanding as at August 9, 2017. The Fund may, during the 12 month period commencing August 21, 2017 purchase on the TSX up to 748,909 equity shares, being 10% of the public float and may not, in any 30 day period, purchase more than 149,821 equity shares, being 2% of the equity shares issued and outstanding. The Fund will cancel all equity shares purchased pursuant to the bid. As at August 9, 2017 the Fund had purchased 219,500 equity shares at an average price of $7.74 per equity share under its previously approved normal course issuer bid. Global Real Estate Dividend Growers Corp. is implementing the NCIB to allow it to purchase equity shares if and when it makes sense to do so.
Global Real Estate Dividend Growers Corp. trades on the Toronto Stock Exchange under the symbol "GRL".
SOURCE Global Real Estate Dividend Growers Corp.
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