Barings Corporate Investors Reports Preliminary Second Quarter 2024 Results and Announces Increased Quarterly Cash Dividend Of $0.40 Per Share
Barings Corporate Investors (NYSE: MCI) reported preliminary Q2 2024 results and increased its quarterly dividend. Key highlights include:
- Net investment income of $8,623,260 ($0.42 per share), up from $8,072,938 ($0.40 per share) in Q1 2024
- Net increase in assets from operations of $6,633,072 ($0.33 per share)
- Total net assets of $350,112,108 ($17.22 per share)
- Quarterly dividend increased by 2.6% to $0.40 per share
The Trust made five new investments totaling $4.5 million and 22 add-on investments totaling $5.4 million. Ten loans were repaid at par totaling $29.0 million. The Trust had $26.9 million in cash and short-term investments and $30.0 million in outstanding borrowings as of March 31, 2024.
Barings Corporate Investors (NYSE: MCI) ha riportato i risultati preliminari del secondo trimestre 2024 e ha aumentato il proprio dividendo trimestrale. I principali punti salienti includono:
- Reddito netto da investimenti di $8,623,260 ($0.42 per azione), in aumento rispetto a $8,072,938 ($0.40 per azione) nel primo trimestre 2024
- Aumento netto delle attività da operazioni di $6,633,072 ($0.33 per azione)
- Attività nette totali di $350,112,108 ($17.22 per azione)
- Dividendo trimestrale aumentato del 2.6% a $0.40 per azione
Il Trust ha effettuato cinque nuovi investimenti per un totale di $4.5 milioni e 22 investimenti addizionali per un totale di $5.4 milioni. Dieci prestiti sono stati rimborsati a valore nominale per un totale di $29.0 milioni. Al 31 marzo 2024, il Trust aveva $26.9 milioni in contante e investimenti a breve termine e $30.0 milioni in prestiti in corso.
Barings Corporate Investors (NYSE: MCI) reportó resultados preliminares para el segundo trimestre de 2024 y aumentó su dividendo trimestral. Los aspectos destacados incluyen:
- Ingreso neto por inversiones de $8,623,260 ($0.42 por acción), un aumento de $8,072,938 ($0.40 por acción) en el primer trimestre de 2024
- Aumento neto en activos de operaciones de $6,633,072 ($0.33 por acción)
- Activos netos totales de $350,112,108 ($17.22 por acción)
- Dividendo trimestral incrementado en un 2.6% a $0.40 por acción
El Trust realizó cinco nuevas inversiones por un total de $4.5 millones y 22 inversiones adicionales por un total de $5.4 millones. Diez préstamos fueron pagados a su valor nominal, totalizando $29.0 millones. Al 31 de marzo de 2024, el Trust tenía $26.9 millones en efectivo e inversiones a corto plazo y $30.0 millones en préstamos pendientes.
바링스 법인 투자자들 (NYSE: MCI)는 2024년 2분기 예비 결과를 발표하고 분기 배당금을 인상했습니다. 주요 내용은 다음과 같습니다:
- 순투자수익이 $8,623,260 ($0.42 per share)로, 2024년 1분기의 $8,072,938 ($0.40 per share)에서 증가했습니다
- 운영에서의 자산 순증가가 $6,633,072 ($0.33 per share)
- 총 순자산이 $350,112,108 ($17.22 per share)
- 분기 배당금이 2.6% 증가하여 $0.40 per share가 되었습니다
신탁은 총 $4.5 million 규모의 다섯 개의 신규 투자와 총 $5.4 million 규모의 22개의 추가 투자를 진행했습니다. 총 $29.0 million 규모의 10개의 대출이 원금 상환되었습니다. 2024년 3월 31일 기준으로 신탁은 $26.9 million의 현금 및 단기 투자, $30.0 million의 미지급 대출을 보유하고 있었습니다.
Barings Corporate Investors (NYSE: MCI) a annoncé ses résultats préliminaires pour le deuxième trimestre 2024 et a augmenté son dividende trimestriel. Les points clés incluent :
- Revenu net d'investissement de $8,623,260 ($0.42 par action), en hausse par rapport à $8,072,938 ($0.40 par action) au premier trimestre 2024
- Augmentation nette des actifs opérationnels de $6,633,072 ($0.33 par action)
- Actifs nets totaux de $350,112,108 ($17.22 par action)
- Dividende trimestriel augmenté de 2,6 % à $0.40 par action
Le Trust a réalisé cinq nouveaux investissements d'un total de 4,5 millions de dollars et 22 investissements supplémentaires d'un total de 5,4 millions de dollars. Dix prêts ont été remboursés à leur valeur nominale pour un total de 29,0 millions de dollars. Au 31 mars 2024, le Trust disposait de $26,9 millions en espèces et investissements à court terme et de $30,0 millions de prêts en cours.
Barings Corporate Investors (NYSE: MCI) hat vorläufige Ergebnisse für das 2. Quartal 2024 veröffentlicht und die vierteljährliche Dividende erhöht. Zu den wichtigsten Punkten gehören:
- Nettokapitalertrag von $8,623,260 ($0.42 pro Aktie), ein Anstieg von $8,072,938 ($0.40 pro Aktie) im 1. Quartal 2024
- Nettogewinn an Vermögenswerten aus dem Betrieb von $6,633,072 ($0.33 pro Aktie)
- Gesamtvermögen von $350,112,108 ($17.22 pro Aktie)
- Vierteljährliche Dividende um 2,6% auf $0.40 pro Aktie erhöht
Der Trust hat fünf neue Investitionen in Höhe von insgesamt $4,5 Millionen und 22 Zusatzinvestitionen in Höhe von insgesamt $5,4 Millionen getätigt. Zehn Darlehen wurden zum Nennwert in Höhe von insgesamt $29,0 Millionen zurückgezahlt. Zum 31. März 2024 hatte der Trust $26,9 Millionen in bar und kurzfristigen Investitionen sowie $30,0 Millionen an ausstehenden Darlehen.
- Net investment income increased to $0.42 per share in Q2 2024, up from $0.40 per share in Q1 2024
- Quarterly dividend increased by 2.6% to $0.40 per share
- Made five new investments totaling $4.5 million and 22 add-on investments totaling $5.4 million
- Ten loans repaid at par totaling $29.0 million
- Net realized losses of $1,165,538 ($0.06 per share) in Q2 2024, compared to gains of $1,770,637 in Q1 2024
- Net unrealized depreciation of $642,281 ($0.03 per share) in Q2 2024
- Net asset value per share decreased to $17.22 as of June 30, 2024, from $17.28 as of March 31, 2024
Insights
This quarterly report reveals a mixed financial performance for Barings Corporate Investors. The Trust's net investment income increased to
On a positive note, the Trust increased its quarterly dividend by
Investors should note the Trust's focus on first-lien senior secured middle-market investments, which could provide stability in uncertain economic conditions. However, the shift from realized gains to losses warrants careful monitoring in future quarters.
Barings Corporate Investors' latest results highlight both opportunities and challenges in the current market environment. The Trust's strategy of focusing on leading businesses with strong sponsor ownership and conservative capital structures appears to be paying off, as evidenced by the consistent dividend increases.
The Trust's portfolio activity shows a cautious approach, with five new investments totaling
However, investors should be aware of the $21.8 million in unfunded commitments, which could impact future performance depending on market conditions. The Trust's liquidity position, with
Financial Highlights(1) |
Three Months Ended
|
Three Months Ended
|
||||||||
|
Total Amount |
Per Share(5) |
Total Amount |
Per
|
||||||
Net investment income(2) |
$ |
8,623,260 |
|
$ |
0.42 |
|
$ |
8,072,938 |
$ |
0.40 |
Net realized (losses) / gains(3) |
$ |
(1,165,538 |
) |
$ |
(0.06 |
) |
$ |
1,770,637 |
$ |
0.08 |
Net unrealized appreciation / (depreciation) |
$ |
(642,281 |
) |
$ |
(0.03 |
) |
$ |
552,329 |
$ |
0.03 |
Net increase in net assets resulting from operations |
$ |
6,633,072 |
|
$ |
0.33 |
|
$ |
10,293,583 |
$ |
0.51 |
|
|
|
|
|
||||||
Total net assets (equity) |
$ |
350,112,108 |
|
$ |
17.22 |
|
$ |
350,763,288 |
$ |
17.28 |
(1) All figures for 2024 are unaudited
(2) June 30, 2024 figures net of less than
(3) June 30, 2024 figures net of less than (4) Based on shares outstanding at the end of the period of 20,298,644 (5) Based on shares outstanding at the end of the period of 20,334,874 |
||||||||||
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 June 30, 2024, the Trust reported total investment income of
Net asset value ("NAV") per share as of June 30, 2024, was
The next scheduled meeting of the Board of Trustees will be held on November 14, 2024.
Recent Portfolio Activity
During the three months ended June 30, 2024, the Trust made five new investments totaling
Liquidity and Capitalization
As of March 31, 2024, the Trust had cash and short-term investments of
Net Capital Gains
The Trust realized net capital losses of
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 June 30, 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
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