Barings Corporate Investors (NYSE:MCI) Plans Quarterly Dividend of $0.40

Barings Corporate Investors (NYSE:MCI) announced a quarterly dividend on Friday, May 16th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.40 per share by the financial services provider on Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Friday, May 30th.

Barings Corporate Investors has increased its dividend payment by an average of 18.3% annually over the last three years.

Barings Corporate Investors Stock Up 1.6%

Shares of MCI stock opened at $20.55 on Wednesday. The stock has a 50-day simple moving average of $20.73 and a 200 day simple moving average of $20.62. Barings Corporate Investors has a fifty-two week low of $16.91 and a fifty-two week high of $25.24.

Insider Activity

In other news, insider Edward P. Grace III sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $22.71, for a total value of $227,100.00. Following the completion of the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On Barings Corporate Investors

A hedge fund recently raised its stake in Barings Corporate Investors stock. Jones Financial Companies Lllp lifted its holdings in Barings Corporate Investors (NYSE:MCI) by 703.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,217 shares of the financial services provider’s stock after purchasing an additional 19,452 shares during the period. Jones Financial Companies Lllp owned 0.11% of Barings Corporate Investors worth $521,000 as of its most recent filing with the SEC.

About Barings Corporate Investors

Babson Capital Corporate Investors trust is a closed ended fixed income mutual fund launched and managed by Barings LLC. It invests in fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in a portfolio of privately placed, below-investment grade, long term corporate debt obligations.