Global Dividend Growers Income Fund (TSX:GDG.UN) announces an Equity Buyback for 467,002 trust units, representing 9.9% of its issued share capital.
May 19, 2020 at 12:00 am EDT
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Global Dividend Growers Income Fund (TSX:GDG.UN) announces a share repurchase program. Under the normal couse issuer bid, the company will repurchase up to 467,002 trust units, representing 9.9% of its issued share capital.
The share repurchases will be held as treasury for resale. The program will commence on May 25, 2020 and will run until May 24, 2021. As of May 11, 2020, the fund had 4,672,524 sahres are in issue.
Global Dividend Growers Income Fund (the Fund) is a closed-end investment fund. The investment objectives of the Fund are to provide unitholders with stable monthly cash distributions and to grow distributions over time and enhance long-term total return through capital appreciation of the Fund's investment portfolio. The Fund invests approximately 30% and till approximately 70% of its assets in an equally weighted passively managed diversified portfolio consisting of the equity securities of publicly listed issuers by market capitalization globally, which have exhibited cumulative dividend growth of approximately 10% over the five-year period ending on the date prior to the date of re-balancing, as well as an indicated dividend yield of approximately 3%. The Fund invests in a range of sectors, such as technology, utilities, consumer discretionary, financials, healthcare, communication services, consumer staples, and industrials. Middlefield Limited is the manager of the Fund.
GLOBAL DIVIDEND GROWERS INCOME FUND 
