BARINGS PARTICIPATION INVESTORS REPORTS PRELIMINARY FIRST QUARTER 2022 RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.20 PER SHARE
Barings Participation Investors (NYSE: MPV) reported preliminary financial results for Q1 2022 on May 19, 2022. The Trust achieved a total investment income of $3.0 million, with net investment income of $2.1 million ($0.20 per share). The net increase in assets from operations was $1.4 million ($0.14 per share). NAV per share rose to $15.33, up from $15.19 at year-end 2021. A quarterly dividend of $0.20 per share is scheduled for June 10, 2022. The Trust made eight new investments totaling $6.5 million during the quarter.
- Net investment income of $2.1 million increased from $2.9 million in the previous quarter.
- NAV per share increased to $15.33, compared to $15.19 from the previous period.
- Quarterly dividend of $0.20 per share declared, payable on June 10, 2022.
- Net unrealized depreciation of $823,400, indicating potential portfolio valuation issues.
- Total investment income decreased from $3.2 million in the prior quarter.
CHARLOTTE, N.C., May 19, 2022 /PRNewswire/ -- The Board of Trustees of Barings Participation Investors (NYSE: MPV) (the "Trust") met on May 19, 2022 and would like to report its preliminary financial results for the first quarter of 2022.
Financial Highlights | Three Months Ended | Three Months Ended | ||
Total Amount | Per Share(3) | Total Amount | Per | |
Net investment income(1) | ||||
Net realized gains / (losses)(2) | ||||
Net unrealized appreciation / (depreciation) | ||||
Net increase in net assets resulting from operations | ||||
Total net assets (equity) | ||||
(1) | December 31, 2021 figures net of approximately |
(2) | December 31, 2021 figures net of approximately |
(3) | Based on shares outstanding at the end of the period of 10,601,700 |
Key Highlights:
Commenting on the quarter, Christina Emery, President, stated, "During the first quarter, Barings continued to drive origination flow into high quality, 1st lien senior secured middle-market investments. When constructing portfolios, we focus on investing in high-quality businesses that are leaders in their space and offer defensive characteristics that will allow them to perform through cycles."
During the three months ended March 31, 2022, the Trust reported total investment income of
Net asset value ("NAV") per share as of March 31, 2022 was
The Board of Trustees declared a quarterly dividend of
On April 18, 2022, the Board of Trustees also approved the continuance of the Trust's current Investment Services Contract with Barings LLC.
The next scheduled meeting of the Board of Trustees will be held on August 18, 2022.
Recent Portfolio Activity
During the three months ended March 31, 2022, the Trust made eight new investments totaling
Liquidity and Capitalization
As of March 31, 2022, the Trust had cash of
Net Capital Gains
The Trust realized net capital gains of
Annual Meeting
At the Annual Meeting, which was held virtually on May 19, 2022, shareholders elected Susan B. Sweeney as an Independent Trustee and David M. Mihalick as an Interested Trustee for three-year terms.
About Barings Participation Investors
Barings Participation 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 ("MPV").
About Barings LLC
Barings is a
*Assets under management as of March 31, 2022
Contact
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
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