Barings Corporate Investors (MCI) Declares $0.32 Dividend

Barings Corporate Investors said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.26 per share.

Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 9, 2023.

At the current share price of $13.72 / share, the stock's dividend yield is 9.33%.

Looking back five years and taking a sample every week, the average dividend yield has been 7.43%, the lowest has been 6.01%, and the highest has been 12.49%. The standard deviation of yields is 0.73 (n=196).

The current dividend yield is 2.59 standard deviations above the historical average.

The company's 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 54 funds or institutions reporting positions in Barings Corporate Investors. This is a decrease of 3 owner(s) or 5.26% in the last quarter. Average portfolio weight of all funds dedicated to MCI is 0.20%, an increase of 74.28%. Total shares owned by institutions decreased in the last three months by 9.01% to 3,779K shares.

What are Other Shareholders Doing?

Rivernorth Capital Management holds 949K shares. In it's prior filing, the firm reported owning 1,069K shares, representing a decrease of 12.58%. The firm decreased its portfolio allocation in MCI by 3.23% over the last quarter.

Rivernorth Opportunities Fund holds 452K shares. No change in the last quarter.

Curbstone Financial Management holds 388K shares. In it's prior filing, the firm reported owning 393K shares, representing a decrease of 1.26%. The firm increased its portfolio allocation in MCI by 97,260.92% over the last quarter.

BHK Investment Advisors holds 345K shares. In it's prior filing, the firm reported owning 325K shares, representing an increase of 5.85%. The firm increased its portfolio allocation in MCI by 83,545.24% over the last quarter.

Benjamin F. Edwards holds 186K shares. In it's prior filing, the firm reported owning 194K shares, representing a decrease of 4.07%. The firm increased its portfolio allocation in MCI by 90,638.41% over the last quarter.

Barings Corporate Investors Background Information
(This description is provided by the company.)

First offered to the public in 1971, Barings Corporate Investors (MCI) seeks to provide a consistent yield while at the same time offering an opportunity for capital gains. MCI’s principal investments are in the privately placed, below-investment grade, long-term debt obligations of companies primarily domiciled in the U.S. These direct placement securities may in some cases be accompanied by equity features such as warrants, conversion rights and occasionally preferred stocks. The Fund typically purchases these investments directly from their issuers, who tend to be smaller companies, and may also temporarily invests in marketable investment-grade and other debt securities (including high yield) and common stocks. MCI is managed on a total return basis, and distributes substantially all of its net income each year in the form of quarterly dividends.

This story originally appeared on Fintel.

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