U.S. Dividend Growers Income Corp. Announces Exchange Ratios
CALGARY, March 12, 2015 /CNW/ - Middlefield Group, on behalf of U.S. Dividend Growers Income Corp. (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated February 25, 2015.
The Fund's investment objectives are to provide holders of shares with:
(i) |
stable monthly cash distributions and to grow distributions over time, and |
(ii) |
enhanced long-term total return through capital appreciation of the Fund's investment portfolio, |
through an investment strategy which focuses on investing in securities of issuers that have exhibited strong dividend growth and that are organized in the United States or that derive a significant portion of their revenue or earnings from the United States.
The initial target distribution yield for the Fund is 5.0% per annum based on the original subscription price (or $0.04167 per share per month or $0.50 per share per annum).
The number of shares issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on March 12, 2015 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of shares and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.
The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.
NAME |
TICKER |
CUSIP |
ISIN |
VWAP |
EXCHANGE |
Technology, Media & Telecommunications |
|||||
AT&T Inc. |
T |
00206R102 |
US00206R1023 |
42.0283 |
4.20282 |
BCE Inc. |
BCE |
05534B760 |
CA05534B7604 |
53.7124 |
5.30624 |
CGI Group Inc. |
GIB.A |
39945C109 |
CA39945C1095 |
53.5046 |
5.35046 |
Cisco Systems Inc. |
CSCO |
17275R102 |
US17275R1023 |
36.4615 |
3.64614 |
International Business Machines Corp. |
IBM |
459200101 |
US4592001014 |
201.2933 |
20.12933 |
Rogers Communications Inc. |
RCI.B |
775109200 |
CA7751092007 |
42.9344 |
4.24544 |
TELUS Corporation |
T |
87971M103 |
CA87971M1032 |
42.4401 |
4.24401 |
Verizon Communications Inc. |
VZ |
92343V104 |
US92343V1044 |
61.0685 |
6.10684 |
Energy |
|||||
ARC Resources Ltd. |
ARX |
00208D408 |
CA00208D4084 |
22.5525 |
2.25525 |
Baytex Energy Corp. |
BTE |
07317Q105 |
CA07317Q1054 |
18.2023 |
1.82023 |
Bonavista Energy Corp. |
BNP |
09784Y108 |
CA09784Y1088 |
6.4076 |
0.64076 |
Cameco Corporation |
CCO |
13321L108 |
CA13321L1085 |
18.0487 |
1.80487 |
Canadian Oil Sands Limited |
COS |
13643E105 |
CA13643E1051 |
9.7955 |
0.97955 |
Cenovus Energy Inc. |
CVE |
15135U109 |
CA15135U1093 |
21.8587 |
2.15925 |
Crescent Point Energy Corp. |
CPG |
22576C101 |
CA22576C1014 |
28.4140 |
2.84140 |
Enbridge Income Fund Holdings Inc. |
ENF |
29251R105 |
CA29251R1055 |
38.3381 |
3.83381 |
Encana Corporation |
ECA |
292505104 |
CA2925051047 |
14.3973 |
1.43273 |
Enerplus Corporation |
ERF |
292766102 |
CA2927661025 |
12.3623 |
1.23623 |
Ensign Energy Services Inc. |
ESI |
293570107 |
CA2935701078 |
9.4881 |
0.94881 |
Husky Energy Inc. |
HSE |
448055103 |
CA4480551031 |
26.4172 |
2.61172 |
Inter Pipeline Ltd. |
IPL |
45833V109 |
CA45833V1094 |
30.7798 |
3.07798 |
MEG Energy Corp. |
MEG |
552704108 |
CA5527041084 |
19.8307 |
1.98307 |
Mullen Group Ltd. |
MTL |
625284104 |
CA6252841045 |
20.3912 |
2.03912 |
Talisman Energy Inc. |
TLM |
87425E103 |
CA87425E1034 |
9.7457 |
0.97457 |
Tourmaline Oil Corp. |
TOU |
89156V106 |
CA89156V1067 |
37.5615 |
3.75615 |
Veresen Inc. |
VSN |
92340R106 |
CA92340R1064 |
14.1499 |
1.41499 |
Financials and Real Estate |
|||||
Agellan Commercial Real Estate Investment Trust |
ACR.UN |
00844Y105 |
CA00844Y1051 |
9.1878 |
0.91878 |
American Hotel Income Properties REIT LP |
HOT.UN |
026695106 |
CA0266951064 |
10.8826 |
1.08826 |
Artis Real Estate Investment Trust |
AX.UN |
04315L105 |
CA04315L1058 |
14.6250 |
1.46250 |
Bank of Montreal |
BMO |
063671101 |
CA0636711016 |
75.8766 |
7.58766 |
The Bank of Nova Scotia |
BNS |
064149107 |
CA0641491075 |
63.5499 |
6.35499 |
Calloway Real Estate Investment Trust |
CWT.UN |
131253205 |
CA1312532056 |
29.1034 |
2.91034 |
Canadian Imperial Bank of Commerce |
CM |
136069101 |
CA1360691010 |
93.0167 |
9.30167 |
Canadian Real Estate Investment Trust |
REF.UN |
13650J104 |
CA13650J1049 |
44.6410 |
4.46410 |
Chartwell Retirement Residences |
CSH.UN |
16141A103 |
CA16141A1030 |
12.0009 |
1.20009 |
Cominar Real Estate Investment Trust |
CUF.UN |
199910100 |
CA1999101001 |
18.7826 |
1.87826 |
Crombie Real Estate Investment Trust |
CRR.UN |
227107109 |
CA2271071094 |
13.2378 |
1.32378 |
Dream Office Real Estate Investment Trust |
D.UN |
26153P104 |
CA26153P1045 |
26.0065 |
2.60065 |
First Capital Realty Inc. |
FCR |
31943B100 |
CA31943B1004 |
19.5173 |
1.95173 |
Great-West Lifeco Inc. |
GWO |
39138C106 |
CA39138C1068 |
35.1643 |
3.51643 |
Laurentian Bank of Canada |
LB |
51925D106 |
CA51925D1069 |
47.9433 |
4.79433 |
National Bank of Canada |
NA |
633067103 |
CA6330671034 |
46.5270 |
4.65270 |
Power Financial Corporation |
PWF |
73927C100 |
CA73927C1005 |
36.5827 |
3.65827 |
Royal Bank of Canada |
RY |
780087102 |
CA7800871021 |
76.3924 |
7.63924 |
Sun Life Financial Inc. |
SLF |
866796105 |
CA8667961053 |
39.4988 |
3.94988 |
The Toronto-Dominion Bank |
TD |
891160509 |
CA8911605092 |
53.8000 |
5.38000 |
Other Dividend Paying Securities |
|||||
Algonquin Power & Utilities Corp. |
AQN |
015857105 |
CA0158571053 |
8.7877 |
0.87877 |
Barrick Gold Corp. |
ABX |
067901108 |
CA0679011084 |
13.8719 |
1.38719 |
Emera Incorporated |
EMA |
290876101 |
CA2908761018 |
40.9461 |
4.09461 |
Fortis Inc. |
FTS |
349553107 |
CA3495531079 |
38.7953 |
3.87953 |
Innergex Renewable Energy Inc. |
INE |
45790B104 |
CA45790B1040 |
11.5540 |
1.15540 |
Johnson & Johnson |
JNJ |
478160104 |
US4781601046 |
126.6152 |
12.66151 |
Kraft Foods Group Inc. |
KRFT |
50076Q106 |
US50076Q1067 |
78.3252 |
7.83251 |
Potash Corporation of Saskatchewan Inc. |
POT |
73755L107 |
CA73755L1076 |
42.1028 |
4.21028 |
Superior Plus Corp. |
SPB |
86828P103 |
CA86828P1036 |
13.6714 |
1.36714 |
The syndicate of agents is being co-led by CIBC, RBC Capital Markets and Scotiabank and includes BMO Nesbitt Burns Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated and Middlefield Capital Corporation.
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 using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE U.S. Dividend Growers Income Corp.
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please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.
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