Babson Capital Participation Investors Declares Quarterly Dividend, Payable on May 13, 2016; Announces Executive Changes
April 23, 2016 at 01:20 am IST
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Babson Capital Participation Investors declared a quarterly dividend of 27 cents per share payable on May 13, 2016 to shareholders of record on May 2, 2016.
The company announced that Robert M. Shettle will succeed Michael L. Klofas as President of the Trust effective June 1, 2016. At the Trust's Annual Meeting of Shareholders, Mr. Klofas announced that he is retiring from Babson Capital and as President of the Trust, effective June 1st. Mr. Shettle is currently head of Babson's Mezzanine and Private Equity Group, where he focuses on originating, analyzing, structuring and documenting mezzanine and private equity investments. He also serves as a Vice President of the Trust and is engaged in the management of the Trust.
Barings Participation Investors (the Trust) is a closed-end management investment company. The Trust's investment objective is to maintain a portfolio of securities providing a current yield and, when available, an opportunity for capital gains. The Trust's principal investments are privately placed, below-investment grade, long-term debt obligations including bank loans and mezzanine debt instruments. Such direct placement securities may, in some cases, be accompanied by equity features such as common stock, preferred stock, warrants, conversion rights, or other equity features. The Trust purchases the investments, which are not publicly tradable, directly from their issuers in private placement transactions. In addition, the Trust may invest in marketable debt securities (including high yield and/or investment grade securities) and marketable common stock. The investment advisor of the Trust is Barings LLC.