CALGARY, Feb. 12, 2014 /CNW/ - Middlefield Group, on
behalf of Global Dividend Growers Income Fund (the "Fund"), is
pleased to announce a 10% increase in the Fund's targeted annual
distribution rate for the 12 months ending March 31, 2015 from $0.60/unit to $0.66/unit, paid monthly. The increased
distribution rate, which will take effect for unitholders of record
as of April 30, 2014, represents a
yield of approximately 6.1% per annum based on the Fund's closing
price on the Toronto Stock Exchange on Monday, February 10, 2014, of $10.85 per unit. The distribution increase is
supported largely by dividend growth from the Fund's portfolio
companies. Pursuant to the increase, the distributions for the
second quarter of 2014 will be payable to unitholders of the Fund
as follows:
| Record Date |
Payable Date |
Distribution
Per Trust Unit |
| April 30, 2014 |
May 15, 2014 |
$0.055 |
| May 31, 2014 |
June 13, 2014 |
$0.055 |
| June 30, 2014 |
July 15, 2014 |
$0.055 |
In accordance with the Fund's declaration of trust, a
targeted distribution amount for the Fund will be determined and
announced at least annually.
The Fund's units trade on the Toronto Stock Exchange under the
symbol GDG.UN
This press release contains forward-looking information.
The forward-looking information contained in this press release is
based on historical information concerning distributions and
dividends paid on the securities of issuers historically included
in the portfolio of the Fund. Actual future results, including the
amount of distributions paid by the Fund, may differ from the
monthly distribution amount. Specifically, the income from which
distributions are paid may vary significantly due to: changes in
portfolio composition; changes in distributions and dividends paid
by issuers of securities included in the Fund's portfolio from time
to time; there being no assurance that those issuers will pay
distributions or dividends on their securities; the declaration of
distributions and dividends by issuers of securities included in
the portfolio will generally depend upon various factors, including
the financial condition of each issuer and general economic and
stock market conditions; the level of borrowing by the Fund; and
the uncertainty of realizing capital gains. The risks,
uncertainties and other factors that could influence actual results
are described under "Risk Factors" in the Fund's prospectus dated
August 29, 2013 and other documents
filed by the Fund with the Canadian securities regulatory
authorities. The forward-looking information contained in this
press release constitutes the Fund's current estimate, 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 the Fund's estimate as of any date other than the date
of this press release.
SOURCE Global Dividend Growers Income Fund