CHARLOTTE, N.C., Oct. 28, 2016 (GLOBE NEWSWIRE) -- 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 18, 2016 to shareholders of record on November 7, 2016. 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, 2016 was $141,496,822 or $13.65 per share based on 10,369,161 shares outstanding. As of September 30, 2015, the Trust’s net assets were $140,680,541 or $13.64 per share based on 10,314,898 shares outstanding. As of June 30, 2016, the Trust’s net assets were $139,379,949 or $13.46 per share based on 10,355,987 shares outstanding.
The Trust’s net investment income for the quarter ended September 30, 2016 was $2,425,345 or $0.23 per share. Net investment income for the quarter ended September 30, 2015 was $2,074,082 or $0.20 per share. For the previous quarter ended June 30, 2016, net investment income was $2,535,594 or $0.24 per share. Net investment income for the nine months ended September 30, 2016 was $7,213,975 or $0.70 per share, compared with $7,314,058 or $0.71 per share for the comparable period in 2015.
During the quarter ended September 30, 2016, net capital gains of $733,319 or $0.07 per share were realized by the Trust (compared to $920,100 or $0.09 per share for the quarter ended September 30, 2015), bringing 2016 year-to-date net realized capital gains to $923,822 or $0.09 per share. During the previous quarter ended June 30, 2016, net capital gains of $560,492 or $0.05 per share were realized by the Trust.
The market price of Babson Capital Participation Investors as of September 30, 2016 was $14.55, which equates to a 6.59% premium over the September 30, 2016 NAV per share. The Trust’s average quarter-end premium for the 3, 5 and 10-year periods was 1.52%, 8.18% and 7.38%, 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 LLC
Barings is a $284 billion* global asset management 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 1,700 employees and 600 investment professionals across 41 offices in 17 countries. Learn more at www.barings.com.
*As of September 30, 2016
(U.S.) Brian Whelan, Barings, 980.417.7700, firstname.lastname@example.org
Source: Baring Asset Management Limited