Barings Participation Investors Declares Quarterly Dividend of $0.27 per Share
October 20 2017 - 2:50PM
The Barings Participation Investors (the “Trust”) Board of Trustees
met today. The Trust’s Trustees declared a quarterly dividend of 27
cents per share payable on November 10, 2017 to shareholders of
record on October 30, 2017. The Trust paid a dividend of 27
cents per share in the preceding quarter.
The Trust’s Trustees determined that the Trust’s net asset value
as of September 30, 2017 was $148,640,732 or $14.24 per share based
on 10,440,458 shares outstanding. As of September 30, 2016, the
Trust’s net assets were $141,496,822 or $13.65 per share based on
10,369,161 shares outstanding. As of June 30, 2017, the
Trust’s net assets were $145,538,123 or $13.96 per share based on
10,422,475 shares outstanding.
The Trust’s net investment income for the quarter ended
September 30, 2017 was $2,629,867 or $0.25 per share. Net
investment income for the quarter ended September 30, 2016 was
$2,425,345 or $0.23 per share. For the previous quarter ended
June 30, 2017, net investment income was $2,993,697 or $0.29 per
share, of which approximately $247,629 or $0.02 per share
represented income due to nonrecurring items. Net investment
income for the nine months ended September 30, 2017 was $8,600,981
or $0.82 per share, compared with $7,213,975 or $0.70 per share for
the comparable period in 2016.
During the quarter ended September 30, 2017, net capital gains
of $880,224 or $0.08 per share were realized by the Trust (compared
to gains of $733,319 or $0.07 per share for the quarter ended
September 30, 2016), bringing 2017 year-to-date net realized
capital gains to $2,168,185 or $0.21 per share. During the
previous quarter ended June 30, 2017, net capital gains of $954,889
or $0.09 per share were realized by the Trust.
Also, in response to current market conditions, the Trustees
agreed to reduce the minimum expected internal rate of return
threshold for investments offered to the Trust pursuant to the
Trust’s existing co-investment exemptive order.
The market price of Barings Participation Investors as of
September 30, 2017 was $14.43, which equates to a 1.13% premium
over the September 30, 2017 NAV per share. The Trust’s
average quarter-end premium for the 3, 5 and 10-year periods was
1.08%, 2.76% and 6.22%, respectively.
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”).
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 in 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 Barings Barings is a leading global
financial services firm dedicated to meeting the evolving
investment and capital needs of our clients. We build lasting
partnerships that leverage our distinctive expertise across
traditional and alternative asset classes to deliver innovative
solutions and exceptional service. A member of the MassMutual
Financial Group, Barings maintains a strong global presence with
over 600 investment professionals and offices in 16 countries.
Learn more at www.barings.com.
Contact: Brian Whelan, Head of Corporate Communications,
980.417.7700, brian.whelan@barings.com
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