CALGARY, April 20, 2016 /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, 2016 and will terminate on
April 22, 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 9,612,986 units issued and outstanding as at
April 12, 2016. The Fund may,
during the 12 month period commencing April
23, 2016 purchase on the TSX up to 961,048 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 192,259 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 12, 2016 the Fund had purchased 131,100
units at an average price of $11.86
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