CHARLOTTE, N.C., July 23, 2020 /PRNewswire/ — The Board of Trustees of Barings Corporate Investors (the «Trust») met on July 22, 2020. The Trust’s Trustees declared a quarterly dividend of $0.24 per share payable on August 14, 2020 to shareholders of record on August 3, 2020. The Trust paid a dividend of $0.24 per share in the preceding quarter.
The Trust’s Trustees determined that the Trust’s June 30, 2020 net asset value («NAV») is $290,410,387 or $14.33 per share based on 20,261,719 shares outstanding. The Trust’s June 30, 2019 NAV was $308,265,619 or $15.29 per share based on 20,156,183 shares outstanding. The Trust reported a NAV of $291,431,796 or $14.38 per share as of March 31, 2020, based on 20,261,719 shares outstanding.
The Trust’s net investment income for the quarter ended June 30, 2020 was $4,217,661 or $0.21 per share, compared to $5,857,617 or $0.29 per share for the quarter ended June 30, 2019. For the previous quarter ended March 31, 2020, net investment income was $6,462,404 or $0.32 per share. Net investment income for the six months ended June 30, 2020 was $10,680,065 or $0.53 per share, compared with $12,149,155 or $0.60 per share for the comparable period in 2019.
During the quarter ended June 30, 2020 net capital gains of $106,182 or $0.01 per share were realized by the Trust, compared to net capital gains of $3,177,374 or $0.16 per share for the quarter ended June 30, 2019. For the previous quarter ended March 31, 2020, net capital gains of $2,117,160 or $0.10 per share. The final determination of the source and tax characteristics of these distributions will depend upon the Trust’s investment experience during its fiscal year and will be made after the Trust’s year end.
The market price of Barings Corporate Investors as of June 30, 2020 was $13.44, which equates to a 6.21% discount to the June 30, 2020 NAV per share. The Trust’s average quarter-end premium for the 3, 5 and 10-year periods was 0.25%, 5.37% and 10.77%, 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.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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 on 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.
Contact: Cheryl Krauss, Barings, 980.417.5858, email@example.com
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