CALGARY, Feb. 24, 2014 /CNW/ - Middlefield Group, on
behalf of Global Dividend Growers Income Fund (the "Fund"), is
pleased to announce that it has filed a preliminary prospectus in
relation to a treasury offering of units of the Fund.
Global Dividend Growers Income Fund is designed to provide
investors with a low-cost investment in global issuers that have
exhibited a history of strong dividend growth.
The Fund's investment objectives are to:
(i) provide holders of units with stable monthly cash
distributions and to grow distributions over time, and
(ii) enhance long-term total return through capital
appreciation of the Fund's investment portfolio,
through an investment strategy which combines passive and active
portfolio management and entails investing primarily in securities
of global, including Canadian and U.S., issuers which have
exhibited strong dividend growth.
On February 12, 2014, the Fund
increased its target distribution rate by 10%, which will begin
with the distribution to unitholders of record on April 30, 2014. As a result, the Fund's target
distribution amount for the 12-month period ending March 31, 2015 is $0.055 per unit per month (corresponding to an
annualized distribution of $0.66 per
unit per annum).
The offering price will be announced in the final prospectus,
and will be at least equal to the net asset value per unit plus
costs of the offering on the date of pricing to ensure holders of
existing units are not diluted.
Middlefield Capital Corporation acts as the investment advisor
to the Fund.
The syndicate of agents is co-led by CIBC and RBC Capital
Markets and includes BMO Capital Markets, National Bank Financial
Inc., Scotiabank, TD Securities Inc., GMP Securities L.P.,
Canaccord Genuity Corp., Raymond James Ltd, Middlefield Capital
Corporation, Dundee Securities Ltd., Mackie Research Capital
Corporation and Manulife Securities Incorporated.
A preliminary prospectus containing important information
relating to these securities has been filed with securities
commissions or similar authorities in all jurisdictions of
Canada. The preliminary prospectus
is still subject to completion or amendment. Copies of the
preliminary prospectus may be obtained from members of the
syndicate of agents named above or from your IIROC registered
financial advisor using the contact information for such agent or
IIROC advisor. There will not be any sale or any acceptance of an
offer to buy the securities until a receipt for the final
prospectus has been issued.
SOURCE Global Dividend Growers Income Fund