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Saratoga Investment Corp. Declares Dividends for the Third Quarter Fiscal 2026 of $0.75 Per Share, In the Aggregate – Paid in a Monthly Dividend of $0.25 Per Share

1. Saratoga Investment declared a $0.75 quarterly dividend for Q3 2026. 2. Monthly dividends of $0.25 will be paid from September to November 2025. 3. Annualized yield stands at 12.2% based on a $24.54 share price. 4. Shareholders can opt for cash or stock via the DRIP program. 5. The company focuses on financing U.S. middle-market businesses.

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FAQ

Why Bullish?

The consistent dividend and attractive yield likely boost investor confidence. Similar patterns have historically led to stock price increases, as seen in previous dividend announcements.

How important is it?

The dividend announcement is crucial for income-seeking investors, potentially attracting capital and increasing stock demand.

Why Short Term?

Immediate dividend payments could drive short-term buying interest. However, long-term effects depend on market conditions and company performance.

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September 11, 2025 08:30 ET  | Source: Saratoga Investment Corp NEW YORK, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a base quarterly dividend of $0.75 per share in aggregate for the third quarter of fiscal 2026, declaring the following three monthly dividends for the quarter ended November 30, 2025: MonthAmount per ShareRecord DatePayment DateSeptember 2025$0.25October 7, 2025October 23, 2025October 2025$0.25November 4, 2025November 20, 2025November 2025$0.25December 2, 2025December 18, 2025 “Our board of directors approved an aggregated dividend for the third quarter of fiscal 2026 of $0.75 per share, paid in monthly dividends of $0.25 per share per month. Annualizing this dividend rate implies a 12.2% dividend yield based on Saratoga’s recent stock price of $24.54 per share on September 9, 2025. Our board of directors is pleased to continue delivering attractive returns to our shareholders via solid and consistent dividends,” said Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment. These are the third group of dividends declared for fiscal year 2026. Historical Dividend Distributions Period (Fiscal Year ends Feb) Base Dividend Per ShareSpecial Dividend Per ShareTotal Dividend Per ShareFiscal Q3 2026 (November 2025)$0.25-$0.25Fiscal Q3 2026 (October 2025)$0.25-$0.25Fiscal Q3 2026 (September 2025)$0.25-$0.25Fiscal Q2 2026 (August 2025)$0.25-$0.25Fiscal Q2 2026 (July 2025)$0.25-$0.25Fiscal Q2 2026 (June 2025)$0.25-$0.25Fiscal Q1 2026 (May 2025)$0.25-$0.25Fiscal Q1 2026 (April 2025)$0.25-$0.25Fiscal Q1 2026 (March 2025)$0.25-$0.25Total Year Fiscal 2026$2.25-$2.25Fiscal Q4 2025$0.74-$0.74Fiscal Q3 2025 $0.74$0.35$1.09Fiscal Q2 2025 $0.74-$0.74Fiscal Q1 2025 $0.74-$0.74Full Year Fiscal 2025$2.96$0.35$3.31Fiscal Q4 2024 $0.73-$0.73Fiscal Q3 2024 $0.72-$0.72Fiscal Q2 2024 $0.71-$0.71Fiscal Q1 2023 $0.70-$0.70Full Year Fiscal 2024$2.86-$2.86Fiscal Q4 2023 $0.69-$0.69Fiscal Q3 2023 $0.68-$0.68Fiscal Q2 2023 $0.54-$0.54Fiscal Q1 2023 $0.53-$0.53Full Year Fiscal 2023$2.44-$2.44 Shareholders will have the option to receive payment of the dividend in cash or receive shares of common stock pursuant to the Company’s dividend reinvestment plan (“DRIP”). Saratoga Investment shareholders who hold their shares with a broker must affirmatively instruct their brokers prior to the record date if they prefer to receive this dividend, and future dividends, in common stock. The number of shares of common stock to be delivered shall be determined by dividing the total dollar amount by 95% of the average of the market prices per share at the close of trading on the ten (10) trading days immediately preceding (and including) the payment date. About Saratoga Investment Saratoga Investment is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Saratoga Investment’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. Saratoga Investment Corp. owns two active SBIC-licensed subsidiaries, having surrendered its first license after repaying all debentures for that fund following the end of its investment period and subsequent wind-down. Furthermore, it manages a $500 million collateralized loan obligation (“CLO”) fund and co-manages a joint venture (“JV”) fund that owns a $400 million collateralized loan obligation (“JV CLO”) fund.  It also owns 52% of the Class F and 100% of the subordinated notes of the CLO, 87.5% of both the unsecured loans and membership interests of the JV and 87.5% of the Class E notes of the JV CLO. The Company’s diverse funding sources, combined with a permanent capital base, enable Saratoga Investment to provide a broad range of financing solutions. Forward Looking StatementsThis press release contains historical information and forward-looking statements with respect to the business and investments of the Company, including, but not limited to, the statements about future events or our future performance or financial condition. Forward-looking statements can be identified by the use of forward looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including, but not limited to: changes in the markets in which we invest; changes in the financial, capital, and lending markets; an economic downturn or a recession and its impact on the ability of our portfolio companies to operate and the investment opportunities available to us; the impact of interest rate volatility on our business and our portfolio companies; the uncertainty associated with the imposition of tariffs and trade barriers and changes in trade policy and its impact on our portfolio companies and the global economy; the impact of supply chain constraints and labor shortages on our portfolio companies; and the elevated levels of inflation and its impact on our portfolio companies and the industries in which we invests, as well as those described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. The Company undertakes no duty to update any forward-looking statements made herein or on the webcast/conference call, whether as a result of new information, future developments or otherwise, except as required by law. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025 and subsequent filings, including the “Risk Factors” sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements.  Contacts:Saratoga Investment Corporation535 Madison Avenue, 4th FloorNew York, NY 10022 Henri SteenkampChief Financial OfficerSaratoga Investment Corp.212-906-7800                                                              Lena CatiThe Equity Group Inc.212-836-9611 / lcati@equityny.com Val FerraroThe Equity Group Inc.212-836-9633 / vferraro@equityny.com

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