CHARLOTTE, N.C., May 7, 2020 /PRNewswire/ -- Barings Global
Short Duration High Yield Fund (the "Fund") (NYSE: BGH) announced
its monthly dividend for May 2020 of
$0.1056 per share, payable on
June 1, 2020. Based on the
Fund's April 30, 2020 share price of
$11.00 per share, the distribution
represents an annualized yield of 11.52% per share. Based on
current projections through the payable date, the Fund expects that
this distribution will be comprised of net investment income.
In addition, the Fund announced estimated monthly distributions
of $0.1056 per share for June 2020 and July
2020.
The distribution schedule appears below:
Month
|
Ex-Date
|
Record
Date
|
Payable
Date
|
Amount1
|
May
|
5/19/2020
|
5/20/2020
|
6/01/2020
|
$0.1056
|
June
|
6/19/2020
|
6/22/2020
|
7/01/2020
|
$0.1056
|
July
|
7/22/2020
|
7/23/2020
|
8/03/2020
|
$0.1056
|
The Fund seeks to pay a distribution at a rate that reflects net
investment income actually earned. A portion of each distribution
may be treated as paid from sources other than net investment
income, including but not limited to short-term capital gain,
long-term capital gain or return of capital. The final
determination of the source and tax characteristics of these
distributions will depend upon the Fund's investment experience
during its fiscal year and will be made after the Fund's year end.
The Fund will send to investors a Form 1099-DIV for the calendar
year that will define how to report these distributions for federal
income tax purposes.
The Fund's Board of Trustees also announced that the annual
shareholders' meeting will be conducted as a virtual meeting to be
held on Thursday, August 6, 2020 at
12:00 Noon. Shareholders of record at the close of business
on May 6, 2020 will be entitled to
vote at the meeting.
The Fund is a non-diversified, closed-end management investment
company that is managed by Barings LLC. The Fund invests
primarily in short-duration, global high yield bonds with the
objective of seeking as high a level of current income as Barings
determines is consistent with capital preservation, with a
secondary objective of capital appreciation. The Fund expects
to maintain a weighted average portfolio duration, including the
effects of leverage, of 3 years or less.
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.
Past performance is not necessarily indicative of future
results.
About Barings
Barings is a $327+ billion* global
financial services firm dedicated to meeting the evolving
investment and capital needs of our clients and customers. Through
active asset management and direct origination, we provide
innovative solutions and access to differentiated opportunities
across public and private capital markets. A subsidiary of
MassMutual, Barings maintains a strong global presence with
business and investment professionals located across North America, Europe and Asia
Pacific. Learn more at www.barings.com.
*As of March 31, 2020
Contact: Cheryl Krauss, Barings,
980.417.5858, cheryl.krauss@barings.com
20-1178356
1 Amounts represent estimates for June and July.
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SOURCE Barings