CALGARY, Aug. 15, 2018 /CNW/ - Global Real Estate Dividend Growers Corp. (TSX: GRL) 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, 2018 and will terminate on August 20, 2019.
The Fund had 4,184,924 equity shares issued and outstanding as at August 8, 2018. The Fund may, during the 12 month period commencing August 21, 2018 purchase on the TSX up to 418,292 equity shares, being 10% of the public float and may not, in any 30 day period, purchase more than 83,698 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 8, 2018 the Fund had purchased 36,900 equity shares on the TSX at an average price of $8.16 per equity share under its previously approved normal course issuer bid. The Fund had the ability to purchase up to 748,909 equity shares under its last NCIB. 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 Real Estate Dividend Growers Corp. trades on the Toronto Stock Exchange under the symbol "GRL".
This press release may contain forward-looking information, including with respect to future purchases of Equity Shares by the Corporation. The forward-looking information contained in this press release constitutes current expectations, 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 an estimate as of any date other than the date of this press release.
SOURCE Global Real Estate Dividend Growers Corp.
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