CALGARY, May 18, 2018 /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"). Purchases pursuant to the NCIB
will be made in the open market through the facilities of the
TSX. This NCIB will commence on May
25, 2018 and will terminate on May
24, 2019. 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 6,638,826 units issued and outstanding as at
May 11, 2018. The Fund may,
during the 12 month period commencing May
25, 2018 purchase on the TSX up to 663,632 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 132,776 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 May 11, 2018 the Fund had purchased 54,900 units
on the TSX at an average price of $12.54 per unit under its previously approved
normal course issuer bid. The Fund had the ability to
purchase up to 764,884 units 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 Dividend Growers trades on the Toronto Stock Exchange
under the symbol "GDG.UN".
This press release may contain forward-looking information,
including with respect to future purchases of Units 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 Dividend Growers Income Fund