Saratoga Invt Corp Stock Price, News & Analysis

Saratoga Investment Corp. (SAR) reported its fiscal year-end 2021 financial results, revealing a total investment income of $57.7 million, a slight decline from $58.4 million in the previous year. The net investment income per share was $2.07, down from $1.59 year-over-year. Assets under management increased by 14.1% to $554.3 million. Despite challenges posed by the pandemic, the company declared a quarterly dividend of $0.43 per share, marking an increase from the previous quarter. The NAV per share reached $27.25, reflecting a marginal growth. However, the return on equity fell to 5.0% compared to 23.6% last year.

Saratoga Investment Corp. (NYSE:SAR) has rescheduled its conference call to discuss Q4 and FY 2021 results for May 6, 2021, at 1:00 p.m. ET. This adjustment aims to offer analysts and investors a less crowded timeslot for participation. The results will be released on May 5, 2021, post-market. Interested parties can join via phone or webcast. Saratoga Investment specializes in providing customized financing solutions to U.S. middle-market businesses, focusing on senior loans, mezzanine debt, and equity investments to achieve attractive risk-adjusted returns.

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.