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