Barings Corporate Investors Declares Quarterly Dividend of $0.30 per Share
July 19 2017 - 1:15PM
The Barings Corporate Investors (the “Trust”) Board of Trustees met
today. The Trust’s Trustees declared a quarterly dividend of
30 cents per share payable on August 11, 2017 to shareholders of
record on August 1, 2017. The Trust paid a dividend of 30
cents per share in the preceding quarter.
The Trust’s Trustees determined that the Trust’s
net asset value as of June 30, 2017 was $302,454,098 or $15.22 per
share based on 19,868,194 shares outstanding. As of June 30,
2016, the Trust’s net assets were $285,537,748 or $14.48 per share
based on 19,723,927 shares outstanding. As of March 31, 2017, the
Trust’s net assets were $292,381,934 or $14.74 per share based on
19,830,088 shares outstanding.
The Trust’s net investment income for the
quarter ended June 30, 2017 was $6,677,343 or $0.34 per share, of
which approximately $725,496 or $0.04 per share represented income
due to nonrecurring items. Net investment income for the quarter
ended June 30, 2016 was $5,507,152 or $0.28 per share. For
the previous quarter ended March 31, 2017, net investment income
was $6,473,615 or $0.33 per share, of which approximately $405,470
or $0.04 per share represented income due to nonrecurring
items. Net investment income for the six months ended June
30, 2017 was $13,151,135 or $0.66 per share, compared with
$10,315,983 or $0.52 per share for the comparable period in
2016.
During the quarter ended June 30, 2017, net
capital gains of $2,544,158 or $0.13 per share were realized by the
Trust (compared to gains of $805,829 or $0.04 per share for the
quarter ended June 30, 2016), bringing 2017 year-to-date net
realized capital losses to $3,230,440 or $0.16 per share.
During the previous quarter ended March 31, 2017, net capital gains
of $686,282 or $0.03 per share were realized by the Trust.
The market price of Barings Corporate Investors
as of June 30, 2017 was $15.09, which equates to a 0.85% discount
to the June 30, 2017 NAV per share. The Trust’s average
quarter-end premium for the 3, 5 and 10-year periods was 9.82%,
13.62% and 12.49%, respectively.
Barings Corporate Investors is a closed-end
management investment company advised by Barings LLC. Its
shares are traded on the New York Stock Exchange under the trading
symbol (“MCI”).
Per share amounts are rounded to the nearest
cent.
Cautionary Notice: Certain statements contained
in this press release may be "forward looking" statements.
Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date in
which they are made and which reflect management’s current
estimates, projections, expectations or beliefs, and which are
subject to risks and uncertainties that may cause actual results to
differ materially. These statements are subject to change at
any time based upon economic, market or other conditions and may
not be relied upon as investment advice or an indication of the
fund's trading intent. References to specific securities are
not recommendations of such securities, and may not be
representative of the fund's current or future investments.
We undertake no obligation to publicly update forward looking
statements, whether as a result of new information, future events,
or otherwise.
About Barings LLC
Barings is a $288+ billion* global financial
services firm dedicated to meeting the evolving investment and
capital needs of our clients. We build lasting partnerships that
leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and
exceptional service. A member of the MassMutual Financial Group,
Barings maintains a strong global presence with over 600 investment
professionals and offices in 16 countries. Learn more at
www.barings.com.
*As of June 30, 2017
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Brian Whelan, Head of Corporate Communications, 980.417.7700, brian.whelan@barings.com
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