CALGARY, May 23, 2017 /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
May 25, 2017 and will terminate on
May 24, 2018. 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 7,651,348 units issued and outstanding as at
May 15, 2017. The Fund may,
during the 12 month period commencing May
25, 2017 purchase on the TSX up to 764,884 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 153,026 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 15, 2017 the Fund had purchased 77,800 units
at an average price of $11.50 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".
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