CHARLOTTE, N.C., Oct. 19, 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 November 9, 2018 to shareholders of record on October 29, 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 September 30, 2018 was $306,426,397 or $15.29 per share based on 20,047,076 shares outstanding. As of September 30, 2017, the Trust's net assets were $309,897,987 or $15.57 per share based on 19,905,321 shares outstanding. As of June 30, 2018, the Trust's net assets were $301,508,712 or $15.07 per share based on 20,011,203 shares outstanding.
The Trust's net investment income for the quarter ended September 30, 2018 was $6,472,092 or $0.32 per share. Net investment income for the quarter ended September 30, 2017 was 5,785,863 or $0.29 per share. For the previous quarter ended June 30, 2018, net investment income was $6,319,243 or $0.32 per share. Net investment income for the nine months ended September 30, 2018 was $18,965,217 or $0.95 per share, compared with $18,936,998 or $0.95 per share for the comparable period in 2017.
During the quarter ended September 30, 2018, net capital gains of $2,999,431 or $0.15 per share were realized by the Trust (compared to gains of $2,679,390 or $0.13 per share for the quarter ended September 30, 2017), bringing 2018 year-to-date net realized capital gains to $10,740,019 or $0.54 per share. During the previous quarter ended June 30, 2018, net capital gains of $5,909,830 or $0.30 per share were realized by the Trust.
The market price of Barings Corporate Investors as of September 30, 2018 was $15.32, which equates to a 0.20% premium over the September 30, 2018 NAV per share. The Trust's average quarter-end premium for the 3, 5 and 10-year periods was 7.89%, 7.42% and 10.97%, 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.
The name Barings Participation Investors is the designation of the Trustees under a Declaration of Trust dated April 7, 1988, as amended from time to time. The name Barings Corporate Investors is the designation of the Trustees under a Declaration of Trust dated September 13, 1985, as amended from time to time. The obligations of such Trusts are not binding upon, nor shall resort be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trusts Individually, but the Trusts' assets and property only shall be bound.
Barings is a $310+ 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 September 30, 2018
Brian Whelan, Barings, 704.805.7244, firstname.lastname@example.org