CHARLOTTE, N.C., Oct. 23, 2015 /PRNewswire/ -- The Babson Capital 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 13, 2015 to shareholders of record on November 4, 2015. 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, 2015 was $140,680,541 or $13.64 per share based on 10,314,898 shares outstanding. As of September 30, 2014, the Trust's net assets were $140,207,012 or $13.63 per share based on 10,287,396 shares outstanding. As of June 30, 2015, the Trust's net assets were $143,105,029 or $13.87 per share based on 10,314,898 shares outstanding.
The Trust's net investment income for the quarter ended September 30, 2015 was $2,074,082 or $0.20 per share. Net investment income for the quarter ended September 30, 2014 was $3,026,731 or $0.24 per share, of which approximately $775,808 or $0.08 per share represented income due to nonrecurring items. For the previous quarter ended June 30, 2015, net investment income was $2,621,911 or $0.25 per share, of which approximately $239,674 or $0.02 per share represented income due to nonrecurring items. Net investment income for the nine months ended September 30, 2015 was $7,403,746 or $0.72 per share, compared with $7,970,186 or $0.77 per share for the comparable period in 2014.
During the quarter ended September 30, 2015, net capital gains of $920,100 or $0.09 per share were realized by the Trust (compared to $2,463,950 or $0.24 per share for the quarter ended September 30, 2014), bringing 2015 year-to-date net realized capital gains to $1,441,822 or $0.14 per share. During the previous quarter ended June 30, 2015, net capital losses of $1,101,530 or $0.11 per share were realized by the Trust.
The market price of Babson Capital Participation Investors as of September 30, 2015 was $13.20, which equates to a 3.22% discount to the September 30, 2015 NAV per share. The Trust's average quarter-end premium for the 3, 5 and 10-year periods was 3.98%, 9.87% and 8.17%, 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 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 Babson Capital Management
Babson Capital Management LLC is one of the world's leading asset management firms, with over $223 billion in assets under management as of September 30, 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
Brian Whelan, Babson Capital Management, 704.805.7244, [email protected]
SOURCE Babson Capital Management LLC