{"id":648,"date":"2017-05-30T20:16:20","date_gmt":"2017-05-30T20:16:20","guid":{"rendered":"http:\/\/henristeenkamp.com\/?p=648"},"modified":"2019-05-06T19:34:30","modified_gmt":"2019-05-06T19:34:30","slug":"saratoga-investment-corp-increases-quarterly-dividend-to-0-47-per-share","status":"publish","type":"post","link":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/saratoga-investment-corp-increases-quarterly-dividend-to-0-47-per-share\/","title":{"rendered":"Saratoga Investment Corp. Increases Quarterly Dividend to $0.47 per Share"},"content":{"rendered":"
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NEW YORK<\/span>,\u00a0May 30, 2017<\/span>\u00a0\/PRNewswire\/<\/a> — Saratoga Investment Corp. (NYSE:\u00a0SAR<\/a>) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared an increased quarterly dividend of\u00a0$0.47<\/span>\u00a0per share for the fiscal quarter ended\u00a0May 31, 2017<\/span>, payable on\u00a0June 27, 2017<\/span>\u00a0to all stockholders of record at the close of business on\u00a0June 15, 2017<\/span>.<\/p>\n

This increase is the eleventh sequential increase to the Company’s quarterly dividends and follows total dividends of\u00a0$1.98<\/span>\u00a0per share for the fiscal period ending\u00a0February 28, 2017<\/span>, representing four quarters’ dividends and one special dividend.<\/p>\n<\/div>\n<\/div>\n

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“The combination of growth in assets under management and strong credit quality allows us to continue to pay an increasing and healthy quarterly dividend,” said\u00a0Christian L. Oberbeck<\/span>, Chairman and Chief Executive Officer of Saratoga Investment. “At the same time, we continue to over-earn our dividend due to an investment pipeline that continues to be productive in a difficult market environment, a growing income yield generated from our prudently increasing high quality portfolio, and levels of available liquidity and capital resources supporting continued growth.”<\/p>\n

Strong financial performance has enabled Saratoga Investment to increase regular quarterly dividends each quarter for the past eleven quarters from\u00a0$0.18<\/span>\u00a0per share for the third quarter of fiscal 2015 to\u00a0$0.47<\/span>\u00a0per share for the first quarter of fiscal 2018. Actual dividends paid in fiscal year 2017 were\u00a0$0.43<\/span>\u00a0per share for the quarter ended\u00a0May 31, 2016<\/span>,\u00a0$0.44<\/span>\u00a0per share for the quarter ended\u00a0August 31, 2016<\/span>,\u00a0$0.45<\/span>\u00a0per share for the quarter ended\u00a0November 30, 2016<\/span>\u00a0and\u00a0$0.46<\/span>\u00a0per share for the quarter ended\u00a0February 28, 2017<\/span>. In addition, Saratoga Investment paid a special dividend of\u00a0$0.20<\/span>\u00a0per share on\u00a0September 5, 2016<\/span>.<\/p>\n

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\u00a0their brokers prior to the record date if they prefer to receive this dividend and future dividends in common stock.\u00a0\u00a0The 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.<\/p>\n

About Saratoga Investment Corp.<\/span><\/p>\n

Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. \u00a0The Company invests primarily in mezzanine debt, senior and unitranche leveraged loans 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.\u00a0 Saratoga Investment Corp.’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments.\u00a0 Saratoga Investment Corp. 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.\u00a0 Saratoga Investment Corp. owns an SBIC-licensed subsidiary and manages a\u00a0$300 million<\/span>\u00a0collateralized loan obligation (“CLO”) fund.\u00a0 It also owns 100% of the subordinated notes of the CLO.\u00a0 These diverse funding sources, combined with a permanent capital base, enable Saratoga Investment Corp. to provide a broad range of financing solutions.<\/p>\n

Forward Looking Statements<\/span><\/p>\n

This press release contains certain forward-looking statements. These forward-looking statements are subject to risks and uncertainties and other factors enumerated in this press release and the filings Saratoga Investment Corp. makes with the SEC. Saratoga Investment Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK,\u00a0May 30, 2017\u00a0\/PRNewswire\/ — Saratoga Investment Corp. (NYSE:\u00a0SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared an increased quarterly dividend of\u00a0$0.47\u00a0per share for the fiscal quarter ended\u00a0May 31, 2017, payable on\u00a0June 27, 2017\u00a0to all stockholders of record at the close of business on\u00a0June 15, […]<\/p>\n","protected":false},"author":1176,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false,"footnotes":""},"categories":[3,4,7,8,9,10,1],"tags":[11,24,54,61,62,64,94,101,110,113],"class_list":["post-648","post","type-post","status-publish","format-standard","hentry","category-blog","category-cfos","category-henri-steenkamp-2","category-saratoga-newsletter","category-saratoga-posts","category-saratoga-press-releases","category-uncategorized","tag-11","tag-bdcs","tag-dividend","tag-financial-results","tag-fiscal-year-end","tag-fourth-quarter","tag-press-release","tag-quarterly-dividend","tag-saratoga","tag-saratoga-investment-corp"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/users\/1176"}],"replies":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/comments?post=648"}],"version-history":[{"count":0,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/648\/revisions"}],"wp:attachment":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/media?parent=648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/categories?post=648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/tags?post=648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}