ING Global Equity Dividend Fund authorizes buyback of up to 10% of its stock through 2009
The fund's Board of Trustees authorized an open-market share repurchase program that may buy up to 10% of the fund's stock through December 31, 2009. The filing says the program aims to reduce the fund's discount to net asset value or raise NAV per share for remaining shareholders.
- Program covers the period ending December 31, 2009, with purchases up to 10% of outstanding stock in open-market transactions
- Exhibit shows the fund may repurchase approximately 9,740,000 shares under the program
- Amount and timing are at management's discretion, subject to market conditions; no assurance of purchases at any particular discount level or amount