CALGARY, May 21, 2019 /CNW/ - Global Dividend Growers
Income Fund (the "Fund") (TSX: GDG.UN) 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, 2019 and will terminate on
May 24, 2020. 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 5,352,444 units issued and outstanding as at
May 13, 2019. The Fund may,
during the 12 month period commencing May
25, 2019 purchase on the TSX up to 534,994 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 107,048 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 13, 2019 the Fund had purchased 34,400 units
on the TSX at an average price of $12.29 per unit under its previously approved
normal course issuer bid. The Fund had the ability to
purchase up to 663,632 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.
The Fund 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
Fund. 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