Welcome to our dedicated page for Saratoga Invt news (Ticker: SAR), a resource for investors and traders seeking the latest updates and insights on Saratoga Invt stock.
Saratoga Investment Corp. reports recurring developments as a business development company that provides customized financing to U.S. middle-market businesses. Its updates center on senior and unitranche leveraged loans, mezzanine debt, selective equity investments, portfolio originations, asset growth, net investment income, net asset value, return on equity and credit quality across its investment portfolio.
Company news also covers dividend declarations, including monthly payments tied to quarterly base dividends, conference-call scheduling, shareholder voting matters and capital-structure activity. Financing updates include debt securities and note issuances used within the BDC's broader funding structure.
Saratoga Investment Corp. (NYSE:SAR) will announce its financial results for the fiscal year ending February 28, 2021, on May 6, 2021. The call will feature CEO Christian L. Oberbeck and CFO Henri J. Steenkamp, and will be accessible via phone or webcast. Saratoga Investment focuses on providing financing solutions for U.S. middle-market businesses through senior loans, mezzanine debt, and equity investments, aiming for attractive risk-adjusted returns. The company holds a $650 million collateralized loan obligation fund.
Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend of $0.43 per share for the fiscal quarter ending February 28, 2021, an increase of $0.01 from the previous quarter. This dividend will be payable on April 22, 2021, to shareholders of record as of April 8, 2021. The company attributes its ability to increase dividends to strong financial performance, a healthy credit profile, and a robust deal pipeline.
In fiscal year 2021, dividends declared included $0.42, $0.41, and $0.40 per share for the previous quarters.
Saratoga Investment Corp. has successfully closed a public offering of $50.0 million in 4.375% notes due 2026, generating net proceeds of approximately $48.8 million. The notes will mature on February 28, 2026, with interest payable semi-annually starting August 28, 2021. The funds will be used to invest in middle-market companies and for general corporate purposes. Raymond James & Associates acted as the sole book-running manager for this offering, which is regulated under the SEC. A detailed prospectus is available for investors.
Saratoga Investment Corp. (NYSE: SAR) announced a public offering of $50 million in 4.375% notes due 2026. The notes mature on February 28, 2026, and can be redeemed optionally at par with a make-whole premium. Interest will be paid semi-annually starting August 28, 2021. Proceeds from the offering will be used for investments in middle-market companies and general corporate purposes. The offering is managed by Raymond James & Associates, with delivery expected around March 10, 2021. Investors should review the prospectus before investing.
Saratoga Investment Corp. (NYSE:SAR) announced a successful reset and upsizing of its CLO 2013-1, lifting total assets to $600 million from $500 million. This reset involves various classes of notes, with key details including:
- A-1-R-3: $330M, Aaa rating, L+132 coupon
- A-2-R-3: $60M, Aaa rating, L+165 coupon
- B-FL-R-3: $55M, Aa2 rating, L+180 coupon
The anticipated closing is set for February 26, 2021, while the legal final date is April 20, 2033. Note that these securities have not been registered under the Securities Act of 1933.
Saratoga Investment Corp. (SAR) reported its fiscal Q3 2021 financial results, showing a 12.3% increase in assets under management (AUM) to $546.9 million compared to the prior year. Net investment income was $4.5 million ($0.40 per share), experiencing a decline from $4.6 million a year prior. The company's net asset value (NAV) rose to $299.9 million with a NAV per share of $26.84. The Board declared a quarterly dividend of $0.42 per share, up by $0.01 from the previous quarter, reflecting confidence despite economic uncertainty due to the COVID-19 pandemic.
Saratoga Investment Corp. (NYSE:SAR) will disclose its financial results for the fiscal quarter ending November 30, 2020, on January 6, 2021, after market close. A conference call to discuss these results is scheduled for January 7, 2021, at 10:00 AM ET. Interested parties can join by dialing the numbers provided or via webcast on the company’s investor relations page. The 10-Q filing will be submitted to the SEC on January 6, 2021. Saratoga Investment focuses on providing customized financing solutions to U.S. middle-market businesses, aiming for attractive risk-adjusted returns.
Saratoga Investment Corp. (NYSE:SAR) reported its fiscal Q2 2021 results, highlighting an AUM of $508.1 million, up 4.4% YoY. The net asset value (NAV) as of August 31, 2020, rose to $298.2 million, yielding a NAV per share of $26.68. The company achieved a return on equity of 14.3% and declared a quarterly dividend of $0.41 per share, a $0.01 increase from the previous quarter. Despite challenges from the COVID-19 pandemic, Saratoga continues to grow its investment portfolio, with significant unrealized gains totaling $16.6 million this quarter.
Saratoga Investment Corp. (NYSE: SAR) announced it will release its financial results for the fiscal quarter ending August 31, 2020, on October 7, 2020, after market close. A conference call will follow on October 8, 2020, at 10:00 a.m. ET to discuss these results, featuring executives Christian Oberbeck, Michael Grisius, and Henri Steenkamp. The results will be available in the Form 10-Q filed with the SEC. The company specializes in financing solutions for middle-market businesses, focusing on leveraged loans and mezzanine debt, aiming for attractive risk-adjusted returns.
Saratoga Investment Corp. (NYSE: SAR) has initiated the distribution of proxy materials for its 2020 Annual Meeting scheduled on September 29, 2020. Stockholders are encouraged to vote their shares promptly to minimize solicitation costs. The meeting will be held in New York, and stockholders as of July 31, 2020, are eligible to vote. The annual report and proxy statement are available for review on Saratoga's investor relations website. Saratoga Investment focuses on providing financing solutions to U.S. middle-market businesses.