Sustainable Innovation & Health Dividend Fund (TSX : SIH.UN) announces an Equity Buyback for 847,850 shares, representing 10% of its issued share capital.
August 27, 2020 at 12:00 am EDT
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Sustainable Innovation & Health Dividend Fund (TSX : SIH.UN) announces a share repurchase program after receiving approval from the Toronto Stock Exchange. Under the normal course issuer bid, the company will repurchase up to 847,850 units, representing 10% of its issued and outstanding share capital. The repurchased units will be cancelled. The bid will commence on September 1, 2020, and continue through August 31, 2021. As of August 21, 2020, the company had 8,500,000 units issued and outstanding.
Sustainable Innovation & Health Dividend Fund (the Fund) is a Canada-based closed-ended investment trust. The Fund's investment objectives are to provide holders of units with stable monthly cash distributions and enhanced long-term total return through capital appreciation of the Fund's investment portfolio. The Fund primarily focuses on investing in a diversified, actively managed portfolio of dividend-paying securities of global technology and healthcare companies. The Fund invests in a portfolio of sectors, including healthcare, technology, real estate, communication services, consumer discretionary, and cash and short-term investments. The Fund's trustee and investment manager is Middlefield Limited.
Sustainable Innovation & Health Dividend Fund (TSX : SIH.UN) announces an Equity Buyback for 847,850 shares, representing 10% of its issued share capital.
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