Barings BDC, Inc., a publicly-traded investment company, reported a 1.5 percent decrease in its third quarter profit compared to the previous quarter, spurred by investment portfolio depreciation and foreign currency transactions, the company said in a press release Tuesday.

The Charlotte-based company reported net investment income of $19.3 million, or 16 cents per share, up from a loss of 59 cents per share in the same quarter a year ago. The company’s earnings fell in line with analyst expectations of 16 cents according to Bloomberg data.

“The third quarter saw us continue our steady and deliberate middle-market investment ramp, rotating out of $130 million of broadly-syndicated loans and investing $116 million in middle-market loans,” said Eric Lloyd, chief executive officer.

“These new middle-market investments included three European investments, providing additional diversity with the goal of generating attractive risk-adjusted returns.”

Net asset value per share for the company’s third quarter was $11.58, down 1 cent from the previous quarter. The difference is due to depreciation on the company’s investment portfolio and foreign currency transactions of 4 cents per share and a net realized loss of 2 cents per share, according to the company.

Following the company’s share repurchase plan adopted on Feb. 25, the company repurchased a total 1,998,835 shares of its common stock in the open market at an average price of $9.95 per share as of Oct. 29.

The company also increased its dividend from 14 cents to 15 cents and adopted a dividend reinvestment plan allowing stockholders to reinvest their dividends in additional shares of the company’s common stock, the company said.

Barings BDC, Inc. is an investment company focused on senior secured loans to private U.S. middle-market companies. Its shares closed at $10.27 on Thursday, up 14 cents.

The filing can be found here.