CALGARY, March 13, 2014 /CNW/ - Middlefield Group, on
behalf of Global Dividend Growers Income Fund (the "Fund"), is
pleased to announce that it has filed a final prospectus with
respect to a treasury offering of units of the Fund. The offering
price is $11.48 per unit and was
established so as to be at least equal to the net asset value per
unit plus expenses of the offering on the date of pricing to ensure
that existing unitholders are not diluted. Closing of the
offering is expected to occur on or about March 20, 2014.
Global Dividend Growers Income Fund is designed to provide
investors with a low-cost investment in global issuers that have
exhibited a history of strong dividend growth.
The Fund's investment objectives are to:
(i) provide holders of units with stable monthly cash
distributions and to grow distributions over time, and
(ii) enhance long-term total return through capital
appreciation of the Fund's investment portfolio,
through an investment strategy which combines passive and active
portfolio management and entails investing primarily in securities
of global, including Canadian and U.S., issuers which have
exhibited strong dividend growth.
On February 12, 2014, the Fund
increased its target distribution rate by 10%, which will begin
with the distribution to unitholders of record on April 30, 2014. As a result, the Fund's target
distribution amount for the 12-month period ending March 31, 2015 is $0.055 per unit per month (corresponding to an
annualized distribution of $0.66 per
unit per annum).
Middlefield Capital Corporation acts as the investment advisor
to the Fund. Units trade under the TSX symbol "GDG.UN".
The syndicate of agents is co-led by CIBC and RBC Capital
Markets and includes BMO Capital Markets, National Bank Financial
Inc., Scotiabank, TD Securities Inc., GMP Securities L.P.,
Canaccord Genuity Corp., Raymond James Ltd, Middlefield Capital
Corporation, Dundee Securities Ltd., Mackie Research Capital
Corporation and Manulife Securities Incorporated.
This offering is only made by prospectus. This prospectus
contains important detailed information about the securities being
offered. Copies of the prospectus may be obtained from
members of the syndicate of agents named above or from your IIROC
registered financial advisor using the contact information for such
agent or IIROC advisor. Investors should read the prospectus
before making an investment decision.
SOURCE Global Dividend Growers Income Fund