CHARLOTTE, N.C., April 17, 2015 /PRNewswire/ -- The Board of
Trustees of Babson Capital Participation Investors (the "Trust")
met on April 17, 2015. The
Trust also conducted its 2015 Annual Meeting of Shareholders.
The Trust's Trustees determined that the Trust's March 31, 2015 net asset value ("NAV") is
$143,704,328 or $13.93 per share based on 10,314,898 shares
outstanding. The Trust's March 31,
2014 NAV was $135,394,699 or
$13.20 per share based on 10,259,379
shares outstanding. The Trust reported a NAV of $137,568,919 or $13.35 per share as of December 31, 2014, based on 10,301,085 shares
outstanding. All figures other than December
31, 2014 figures are unaudited.
The Trust's net investment income for the quarter ended
March 31, 2015 was $2,707,753 or $0.24
per share, of which approximately $351,190 or $0.03
per share represented income due to nonrecurring items, compared to
$2,505,401 or $0.24 per share for the corresponding quarter
last year. For the previous quarter ended December 31, 2014, net investment income was
$10,597,214 or $1.03 per share.
The Trust declared a quarterly dividend of 27 cents per share payable on May 15, 2015 to shareholders of record on
May 1, 2015. The Trust had
previously paid a 27 cent-per-share
dividend for the preceding quarter. The Board of
Trustees also approved the continuance of the Trust's current
Investment Advisory and Administrative Services Contract with
Babson Capital Management LLC.
During the quarter ended March 31,
2015 net capital gains of $1,623,253 or $0.16
per share were realized by the Trust, compared to net capital gains
of $440,339 or $0.04 per share for the quarter ended
March 31, 2014. For the previous
quarter ended December 31, 2014, net
capital gains were $2,411,567 or
$0.23 per share.
At the Annual Meeting, shareholders elected William J. Barrett and Clifford M. Noreen as Trustees for three-year
terms.
The market price of Babson Capital Participation Investors as of
March 31, 2015 was $12.13, which equates to a 12.92% discount to the
March 31, 2015 NAV per share.
The Trust's average quarter-end premium for the 3, 5 and 10-year
periods was 7.15%, 11.59% and 8.88%, respectively.
Babson Capital Participation Investors is a closed-end
management investment company advised by Babson Capital Management
LLC. Its shares are traded on the New York Stock Exchange
under the trading symbol ("MPV").
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 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.
About Babson Capital Management
Babson Capital Management LLC (Babson) is a leading global asset
management firm with over $217
billion in assets under management as of March 31, 2015. Through proprietary research,
analysis and a focus on investment fundamentals, the firm and its
global affiliates develop products and strategies that leverage its
broad expertise in global fixed income, structured products, middle
market finance, commercial real estate, alternatives and
equities. A member of the MassMutual Financial Group, Babson
maintains a strong global footprint with operations on four
continents and clients in over 20 countries. Learn more at
www.babsoncapital.com.
Media Contacts:
Brian Whelan, Babson Capital
Management, 704.805.7244, bwhelan@babsoncapital.com;
15/703
Logo - http://photos.prnewswire.com/prnh/20140618/119196
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/babson-capital-participation-investors-2015-annual-meeting-300067984.html
SOURCE Babson Capital Management LLC