Saratoga Investment Corp (SAR) to Issue Monthly Dividend of $0.25 on November 24th

Saratoga Investment Corp (NYSE:SAR) announced a monthly dividend on Wednesday, September 9th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.25 per share by the financial services provider on Tuesday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 22.1%. The ex-dividend date is Thursday, November 5th.

Saratoga Investment has increased its dividend by an average of 0.2% annually over the last three years. Saratoga Investment has a payout ratio of 90.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Saratoga Investment to earn $2.13 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 140.8%.

Saratoga Investment Price Performance

Shares of SAR opened at $13.57 on Tuesday. Saratoga Investment has a 1 year low of $13.23 and a 1 year high of $24.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $211.13 million, a price-to-earnings ratio of -54.28 and a beta of 0.57. The business has a 50-day moving average of $16.30 and a 200-day moving average of $20.48.

Saratoga Investment (NYSE:SAR) last announced its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $31.17 million during the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. As a group, equities research analysts anticipate that Saratoga Investment will post 1.92 earnings per share for the current year.

Saratoga Investment Company Profile

Saratoga Investment Corp. (NYSE: SAR) is a closed-end, non-diversified business development company that provides financing to lower middle-market companies in the United States. The company invests primarily in established businesses and seeks to support their growth, acquisitions, recapitalizations, and other strategic initiatives.

Saratoga Investment’s investment portfolio generally includes senior and subordinated debt, unitranche loans, and equity investments. Through its wholly owned Saratoga Investment Advisors subsidiary, the company also manages a Small Business Investment Company (SBIC) subsidiary, allowing it to provide government-supported financing to qualifying small and mid-sized businesses.

The company is based in New York and focuses on U.S.-based businesses across a range of industries.