CHARLOTTE, N.C.--(BUSINESS WIRE)--The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSE: BGH) announced its monthly dividend for August 2024 of $0.1056 per share, payable on September 3, 2024. Based on the Fund’s July 31, 2024 share price of $15.02 per share, the dividend represents an annualized yield of 8.43% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.
In addition, the Fund announced estimated monthly dividends of $0.1056 per share for September 2024 and October 2024.
The dividend schedule appears below:
Month |
|
Ex-Date |
|
Record Date |
|
Payable Date |
|
Amount1 |
August |
|
08/22/2024 |
|
08/22/2024 |
|
09/03/2024 |
|
$0.1056 |
September |
|
09/20/2024 |
|
09/20/2024 |
|
10/01/2024 |
|
$0.1056 |
October |
|
10/23/2024 |
|
10/23/2024 |
|
11/01/2024 |
|
$0.1056 |
The Fund also announced a special distribution of $0.2000 per share payable on September 3, 2024. This special distribution is being paid to allow the Fund to meet its 2023 distribution requirements as a Regulated Investment Company. The Fund anticipates that this distribution will be paid from net investment income.
The following dates apply to the special distribution declared today:
Ex-Date |
|
Record Date |
|
Payable Date |
|
Amount |
8/22/2024 |
|
8/22/2024 |
|
9/03/2024 |
|
$0.2000 |
The total amount to be paid on September 3, 2024, inclusive of the regular and special dividend, is $0.3056 per share.
The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain or return of capital. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes.
The Fund is a non-diversified, closed-end management investment company that is managed by Barings LLC. The Fund invests primarily in short-duration, global high yield bonds with the objective of seeking as high a level of current income as Barings determines is consistent with capital preservation, with a secondary objective of capital appreciation. The Fund expects to maintain a weighted average portfolio duration, including the effects of leverage, of 3 years or less.
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.
Past performance is not necessarily indicative of future results.
About Barings
Barings is a $409+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
*As of June 30, 2024
1 Amounts represent estimates for September and October.
