Global Dividend Growers Income Fund Announces Special Distribution

CALGARY, Dec. 16, 2016

The special distribution is the result of two factors. First, the Fund's successful performance, with an annualized total return of over 13% since its inception in March 2013, has been accompanied by realized capital gains. Second, the Fund's Declaration of Trust requires that all taxable income be allocated to unitholders prior to the end of its taxation year.

A unitholder will be required to include the amount of the special distribution in income, most of which will be in the form of capital gains, and the amount of the distribution reinvested in units will be added to the adjusted cost base of the units held by such unitholder, thereby reducing taxable gains that may be realized on future dispositions of the units.

Unitholders are reminded they may elect to automatically reinvest cash distributions made by the Fund in additional units through participation in the Fund's Distribution Reinvestment Plan ("DRIP"). Unitholders can enroll in the DRIP program by contacting their investment advisor or Middlefield.

The Fund's units trade on the Toronto Stock Exchange under the symbol GDG.UN.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund's portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under "Risk Factors" in the Fund's prospectus dated March 12, 2014 and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.

SOURCE Global Dividend Growers Income Fund