Saratoga Invt Corp Stock Price, News & Analysis

Saratoga Investment Corp. (NYSE: SAR) has announced the distribution of proxy materials for its 2024 Annual Meeting of Stockholders, scheduled for September 26, 2024, at 10:00 a.m. ET. The meeting will be held at Ropes and Gray's offices in New York. Stockholders of record as of July 29, 2024 are eligible to vote. The company urges stockholders to vote promptly to reduce solicitation costs. Saratoga's Annual Report on Form 10-K and definitive proxy statement are available on the company's Investor Relations website. The proxy statement was filed with the SEC on August 1, 2024.

Saratoga Investment Corp. (NYSE:SAR) announced its fiscal first-quarter 2025 results, highlighting a net investment income (NII) per share of $1.05, down from $1.35 last year but up from $0.94 in the previous quarter. The adjusted NII per share remained at $1.05. The company's annualized dividend of $0.74 per share implies a 13.1% yield, supported by its current earnings yielding 18.6%. The overall portfolio experienced a 19% increase in recurring net interest margin due to a 9% rise in average assets under management (AUM). However, the net asset value (NAV) per share decreased to $26.85 from $28.48 last year. Investment income grew by 11.7% year-over-year to $38.7 million. Despite these gains, portfolio adjustments led to a net reduction in portfolio value by $7.3 million this quarter. The company's liquidity remains strong with $93.3 million in cash and cash equivalents.

Saratoga Investment Corp. (NYSE:SAR) will announce its fiscal first-quarter financial results for the period ending May 31, 2024, on July 9, 2024, after the market closes. The company will hold a conference call to discuss these results the following day, July 10, 2024, at 10:00 a.m. ET. The call will feature insights from the company's top executives, including CEO Christian L. Oberbeck, CIO Michael J. Grisius, and CFO Henri J. Steenkamp. Interested parties can access the live webcast or phone call through the company's investor relations website. Saratoga Investment focuses on financing solutions for middle-market businesses and has various funding sources, including a $650 million CLO fund and a $400 million JV CLO fund. The company's Form 10-Q will be filed with the SEC on the same day as the earnings release.

Saratoga Investment Corp. (NYSE:SAR) has announced its 17th consecutive quarterly dividend increase, lifting the dividend by $0.01 to $0.74 per share for the fiscal first quarter ending May 31, 2024. This marks a 1.4% increase from the previous quarter and a 6% rise year-over-year. The dividend is payable on June 27, 2024, to shareholders of record at the close of business on June 13, 2024. In fiscal year 2024, total dividends were $2.85 per share, a 16.8% increase over the prior year. The improved dividend is supported by portfolio growth and favorable interest rates, resulting in a 12.7% annualized yield based on the recent stock price of $23.22. Saratoga's overearning of its dividend by 29% last quarter also highlights a robust earnings yield of 16.2%, increasing the Net Asset Value and providing a buffer against potential interest rate cuts.

Saratoga Investment Corp. (NYSE:SAR) announced strong financial results for its fiscal year and fourth quarter of 2024, with notable increases in Net Investment Income per share. The company's AUM grew by 17.1% year-over-year to $1.139 billion, with impressive portfolio performance and increased dividends. Despite challenges in some portfolio companies, Saratoga Investment remains resilient with a well-structured portfolio. The company raised new equity to support growth and NAV, while remaining cautious in new commitments. Overall, Saratoga Investment's solid performance and continued growth reflect its robust investment strategy and strong financial position.