Barings Global Short Duration High Yield Fund Announces August 2023 Monthly Distribution of $0.1056 per Share and Special Distribution of $0.1660 per Share
09 Agosto 2023 - 5:30PM
Business Wire
The Barings Global Short Duration High Yield Fund (the “Fund”)
(NYSE: BGH) announced its monthly dividend for August 2023 of
$0.1056 per share, payable on September 1, 2023. Based on the
Fund’s July 31, 2023 share price of $13.38 per share, the dividend
represents an annualized yield of 9.47% 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 2023 and October 2023.
The dividend schedule appears below:
Month
Ex-Date
Record
Date
Payable
Date
Amount1
August
8/22/2023
8/23/2023
9/01/2023
$0.1056
September
9/20/2023
9/21/2023
10/02/2023
$0.1056
October
10/20/2023
10/23/2023
11/01/2023
$0.1056
The Fund also announced a special dividend of $0.1660 per share
payable on September 1, 2023. This special dividend is being paid
to allow the Fund to meet its 2022 distribution requirements as a
regulated investment company under Subchapter M of the Internal
Revenue Code of 1986, as amended. The Fund anticipates that this
special dividend will be paid from net investment income.
The following dates apply to the special dividend:
Ex-Date
Record
Date
Payable
Date
Amount
8/22/2023
8/23/2023
9/01/2023
$0.1660
____________________________
1 Amounts represent estimates for
September and October.
The total amount to be paid on September 1, 2023, inclusive of
the regular and special dividends, is $0.2716 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 $351+ billion* global investment manager sourcing
differentiated opportunities and building long-term portfolios
across public and private fixed income, real estate, and specialist
equity markets. With investment professionals based in North
America, Europe and Asia Pacific, the firm, a subsidiary of
MassMutual, aims to serve its clients, communities and employees,
and is committed to sustainable practices and responsible
investment.
*As of June 30, 2023
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