CHARLOTTE, N.C., July 25, 2018 /PRNewswire/ -- The Barings Corporate Investors (the "Trust") Board of Trustees met today. The Trust's Trustees declared a quarterly dividend of 30 cents per share payable on August 17, 2018 to shareholders of record on August 6, 2018. The Trust paid a dividend of 30 cents per share in the preceding quarter.
The Trust's Trustees determined that the Trust's net asset value as of June 30, 2018 was $301,508,712 or $15.07 per share based on 20,011,203 shares outstanding. As of June 30, 2017, the Trust's net assets were $302,454,098 or $15.22 per share based on 19,868,194 shares outstanding. As of March 31, 2018, the Trust's net assets were $304,788,145 or $15.26 per share based on 19,975,363 shares outstanding.
The Trust's net investment income for the quarter ended June 30, 2018 was $6,319,243 or $0.32 per share. Net investment income for the quarter ended June 30, 2017 was $6,677,343 or $0.34 per share, of which approximately $725,496 or $0.04 per share represented income due to nonrecurring items. For the previous quarter ended March 31, 2018, net investment income was $6,173,533 or $0.31 per share. Net investment income for the six months ended June 30, 2018 was $12,492,776 or $0.62 per share, compared with $13,151,135 or $0.66 per share for the comparable period in 2017.
During the quarter ended June 30, 2018, net capital gains of $2,984,279 or $0.15 per share were realized by the Trust (compared to gains of $2,544,158 or $0.13 per share for the quarter ended June 30, 2017), bringing 2018 year-to-date net realized capital gains to 7,740,589 or $0.39 per share. During the previous quarter ended March 31, 2018, net capital gains of $4,756,310 or $0.24 per share were realized by the Trust.
The market price of Barings Corporate Investors as of June 30, 2018 was $15.11, which equates to a 0.26% premium over the June 30, 2018 NAV per share. The Trust's average quarter-end premium for the 3, 5 and 10-year periods was 8.77%, 7.86% and 10.92%, respectively.
Barings Corporate 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 ("MCI").
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.
Barings is a $306+ billion* 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. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of June 30, 2018
Brian Whelan, Barings, 704.805.7244, email@example.com