Clough Global Allocation Fund announces an Equity Buyback for 5% of its issued share capital.
December 14, 2016 at 12:00 am EST
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Clough Global Allocation Fund announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding shares. Shares will be repurchased in the open market at a discount to net asset value. As part of Funds ongoing evaluation of options to enhance shareholder value, the Board have authorized the Advisor to have the Fund repurchase the shares of common stock at such times and in such amounts as the Advisor reasonably believes may enhance shareholder value. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts. The Funds' repurchase program will be implemented on a discretionary basis under the direction of the Advisor. The repurchase program will continue till October 31, 2017.
Clough Global Dividend and Income Fund (the Fund) is a closed-end management investment company. The Fund's investment objective is to provide a high level of total return. It seeks to invest at least 80% of its net assets, including any borrowings for investment purposes, in equity securities in both United States and non-United States markets. It invests in a managed mix of equity and debt securities. The Fund may not invest more than 33% of its total assets in securities (including equity and fixed income securities) of governments and companies in emerging markets. The Fund also invest a portion of its assets in real estate investment trusts (REITs). It may not invest more than 10% of its total assets in debt securities rated below investment grade. In addition to shorting to hedge equity risk, the Fund may utilize instruments including, exchange traded funds (ETFs), derivative positions and U.S. Treasury securities. Clough Capital Partners L.P. is the Fund's investment adviser.
CLOUGH GLOBAL DIVIDEND AND INCOME FUND 
