Canadian Utilities & Telecom Income Fund (TSX:UTE.UN) announces a share repurchase program. Under the bid, the company will repurchase up to 358,791 units, representing 10% of its public float and that of its issued and outstanding units. The units will be repurchased at a price per unit not exceeding the last net asset value per units. The repurchases will be made through the facilities of the TSX or other eligible alternative market and may only be purchased. The units will be repurchased for cancellation. The fund may repurchase up to 71,800 units in any 30-day period which is 2% of its issued and outstanding units. The Directors believe that such repurchases are in the best interest of the fund and are a desirable use of its available funds. The bid will commence from October 22, 2014 and will end on October 21, 2015. As of September 30, 2014, the company has 3,587,910 units in public float and 3,590,002 issued and outstanding units.

On October 20, 2014, the Board announced that it has received approval from the Toronto Stock Exchange to make the repurchases.