Barings Corporate Investors Reports Preliminary First Quarter 2024 Results and Announces Increased Quarterly Cash Dividend Of $0.39 Per Share
Financial Highlights(1) |
Three Months Ended
|
Three Months Ended
|
|||||||||
|
Total Amount |
Per Share(5) |
Total Amount |
Per
|
|||||||
Net investment income(2) |
$ |
8,072,938 |
$ |
0.40 |
$ |
7,379,615 |
$ |
0.36 |
|||
Net realized (losses) / gains(3) |
$ |
1,770,637 |
$ |
0.08 |
$ |
480,613 |
$ |
0.02 |
|||
Net unrealized appreciation / (depreciation) |
$ |
552,329 |
$ |
0.03 |
$ |
1,093,175 |
$ |
0.05 |
|||
Net increase in net assets resulting from operations |
$ |
10,293,583 |
$ |
0.51 |
$ |
9,075,093 |
$ |
0.45 |
|||
|
|
|
|
|
|||||||
Total net assets (equity) |
$ |
350,763,288 |
$ |
17.28 |
$ |
339,826,094 |
$ |
16.77 |
(1) All figures for 2024 are unaudited |
(2) December 31, 2023 figures net of approximately |
(3) December 31, 2023 figures net of approximately |
(4) Based on shares outstanding at the end of the period of 20,261,719 |
(5) Based on shares outstanding at the end of the period of 20,298,644 |
Key Highlights:
Commenting on the quarter, Christina Emery, President, stated, "The Trust earned
The Board of Trustees declared a quarterly dividend of
During the three months ended March 31, 2024, the Trust reported total investment income of
Net asset value ("NAV") per share as of March 31, 2024, was
The next scheduled meeting of the Board of Trustees will be held on August 15, 2024.
Recent Portfolio Activity
During the three months ended March 31, 2024, the Trust made eight new investments totaling
Liquidity and Capitalization
As of March 31, 2024, the Trust had cash of
Net Capital Gains
The Trust realized net capital gains of
Annual Meeting
At the Annual Meeting, which was held on Thursday, May 16, 2024, shareholders elected Clifford M. Noreen as an Interested Trustee and Edward P. Grace III as an Independent Trustee, each for three-year terms.
About Barings Corporate Investors
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").
About Barings LLC
Barings is a
*Assets under management as of March 31, 2024
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.
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Source: Barings Corporate Investors