Barings Global Short Duration High Yield Fund Announces August 2024 Monthly Distribution of $0.1056 per Share and Special Distribution of $0.2000 per Share
08 Agosto 2024 - 10:15PM
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.
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