Maximum $100 million - Closing March 22, 2013
CALGARY, Feb. 27, 2013 /CNW/ - Middlefield Group, on behalf of Global
Dividend Growers Income Fund (the "Fund"), is pleased to announce that it has filed a final
prospectus in relation to an initial public offering of units at a
price of $10.00 per unit.
Global Dividend Growers Income Fund has been designed to provide investors with a low-cost investment in
global issuers that have exhibited a history of strong dividend growth.
A portion of the Fund's assets will be invested in an equally-weighted
passively managed portfolio consisting of the equity securities of the
20 largest publicly-listed issuers by market capitalization globally
which have exhibited cumulative dividend growth of at least 10% over
the last five years as well as an indicated dividend yield of at least
3%. The remainder of the Fund's assets will be invested in an actively
managed diversified portfolio primarily comprised of securities of
global issuers which have exhibited strong dividend growth or which the
investment advisor believes will be high-performing or otherwise
represent attractive investment opportunities for Global Dividend
Growers Income Fund.
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.
The initial target distribution yield for the Fund is 6.0% per annum
based on the original subscription price (or $0.05 per unit per month
or $0.60 per unit per annum).
Middlefield Capital Corporation will act as the investment advisor to
The syndicate of agents is being co-led by CIBC and RBC Capital Markets
and includes Scotiabank, TD Securities Inc., BMO Capital Markets,
National Bank Financial Inc., Canaccord Genuity Corp., Macquarie
Private Wealth Inc., Raymond James Ltd., GMP Securities L.P., Mackie
Research Capital Corporation, Middlefield Capital Corporation and
Dundee Securities Ltd.
This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered.
Copies of the prospectus may be obtained from your IIROC registered
financial advisor. Investors should read the prospectus before making
an investment decision.
SOURCE: Global Dividend Growers Income Fund