Global Dividend Growers Income Fund Announces Treasury Offering

CALGARY, Aug. 12, 2013 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce that it has filed a preliminary prospectus in relation to a treasury offering of units of the Fund.

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.

The Fund's target distribution amount for the period ending March 31, 2014 is $0.05 per unit per month (corresponding to an annualized distribution of $0.60 per unit per annum).

As of the close of business on August 8, 2013 the closing price of the units on the Toronto Stock Exchange ("TSX") was $10.25 per unit and the Fund's net asset value per unit was $9.80. The offering price will be announced in the final prospectus, and will be at least equal to the net asset value per unit plus costs of the offering on the date of pricing to ensure holders of existing units are not diluted.

Middlefield Capital Corporation acts as the investment advisor to the Fund.

Units trade under the TSX symbol "GDG.UN".

The syndicate of agents is being co-led by CIBC and RBC Capital Markets and includes Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities 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.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the agents named above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE: Global Dividend Growers Income Fund

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