TORONTO, ONTARIO--(Marketwired - June 25, 2014) - Bloom U.S Income & Growth Fund (the "Fund") (TSX:BUA.UN) announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 354,980 Class A Units of the Fund, representing approximately 10% of the public float of 3,549,803 Class A Units as of June 19, 2014. The Fund will not purchase in any given 30-day period, in the aggregate, more than 73,173 Units, being 2% of the issued and outstanding Units of 3,658,690 as of June 19, 2014. Purchases of Units under the NCIB may commence on June 27, 2014. Bloom Investment Counsel, Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's resources. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on June 26, 2015.
On June 25, 2013, the Fund announced that it was making a Normal Course Issuer Bid, which commenced June 27, 2013, to purchase up to 361,271 Class A Units through the facilities of the TSX. As of June 19, 2014, the Fund has repurchased 134,800 Class A Units at a weighted average price of $9.0476 per Class A Unit under the bid, which expires June 26, 2014.
Since the Fund's inception in March 2013, the Fund has paid cash distributions of $0.72 per Class A Unit. Unitholders are reminded that the Fund has a Dividend Reinvestment Plan (DRIP) providing unitholders with the ability to automatically reinvest their distributions and benefit from the compound growth from this reinvestment. Please contact your Investment Advisor or financial institution to enrol in this DRIP.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bloom U.S. Income & Growth Fund
416-861-9941 or 1- 855-BLOOM18
Source: Bloom U.S. Income & Growth Fund