Toronto-based Franklin Templeton Investments Corp. will not proceed with proposed changes to its investment objectives and strategies of Franklin Bissett Dividend Income Fund and Franklin Bissett Dividend Income Corporate Class, the firm announced on Friday.

As such, the special meetings of security holders held on June 25 to vote for proposed changes has been cancelled.

The funds will continue to seek to provide high current income by investing mainly in Canadian and American dividend-paying preferred and common stock, in addition to bonds up to a maximum of 25% of total assets, the firm says in a news release.