{"id":762,"date":"2019-05-28T19:09:18","date_gmt":"2019-05-28T19:09:18","guid":{"rendered":"https:\/\/henristeenkamp.com\/?p=762"},"modified":"2019-05-28T19:09:18","modified_gmt":"2019-05-28T19:09:18","slug":"saratoga-investment-corp-increases-quarterly-dividend-to-0-55-per-share-represents-the-19th-sequential-quarterly-dividend-increase","status":"publish","type":"post","link":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/saratoga-investment-corp-increases-quarterly-dividend-to-0-55-per-share-represents-the-19th-sequential-quarterly-dividend-increase\/","title":{"rendered":"Saratoga Investment Corp. Increases Quarterly Dividend to $0.55 per Share Represents the 19th Sequential Quarterly Dividend Increase"},"content":{"rendered":"
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May 28, 2019<\/div>\n<\/div>\n
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Saratoga Investment Corp. Increases Quarterly Dividend to $0.55 per Share Represents the 19th Sequential Quarterly Dividend Increase<\/div>\n<\/div>\n
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NEW YORK,\u00a0May 28, 2019\u00a0(GLOBE NEWSWIRE) —\u00a0Saratoga Investment Corp.\u00a0(NYSE:SAR) (\u201cSaratoga Investment\u201d or \u201cthe Company\u201d), a business development company, today announced that its Board of Directors has declared an increased quarterly dividend of\u00a0$0.55\u00a0per share for the fiscal quarter ended\u00a0May 31, 2019, payable on\u00a0June 27, 2019, to all stockholders of record at the close of business on\u00a0June 13, 2019.<\/p>\n

This increase is the nineteenth sequential increase to the Company\u2019s quarterly dividends. \u00a0Total dividends declared for the fiscal years ended\u00a0February 28, 2019\u00a0and 2018 were\u00a0$2.10\u00a0per share and\u00a0$1.94\u00a0per share, respectively. The Company paid a quarterly dividend of\u00a0$0.54\u00a0per share for the quarter ended\u00a0February 28, 2019,\u00a0$0.53\u00a0per share for the quarter ended\u00a0November 30, 2018,\u00a0$0.52\u00a0per share for the quarter ended\u00a0August 31, 2018, and\u00a0$0.51\u00a0per share for the quarter ended\u00a0May 31, 2018. Throughout fiscal year 2018, the Company paid a quarterly dividend of\u00a0$0.50\u00a0per share for the quarter ended\u00a0February 28, 2018,\u00a0$0.49\u00a0per share for the quarter ended\u00a0November 30, 2017,\u00a0$0.48\u00a0per share for the quarter ended\u00a0August 31, 2017, and\u00a0$0.47\u00a0per share for the quarter ended\u00a0May 31, 2017.<\/p>\n

\u201cSaratoga investment has been able to consistently generate strong investment income and increased net asset value over the long-term, despite credit market volatility,\u201d said\u00a0Christian L. Oberbeck, Chairman and Chief Executive Officer of\u00a0Saratoga Investment. \u201cThis has given us the ability to continue to grow our dividend payments, delivering nearly five years of increased quarterly dividends. This sets us strongly apart from most others in the BDC industry, underscoring the value created from our high quality management team, ample available liquidity, disciplined credit analysis and robust investment sourcing pipeline.\u201d<\/p>\n

Strong financial performance has enabled\u00a0Saratoga Investment\u00a0to increase regular quarterly dividends each of the past nineteen quarters from\u00a0$0.18\u00a0per share for the third quarter of fiscal 2015 to\u00a0$0.55\u00a0per share for this first quarter of fiscal 2020.<\/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\u2019s dividend reinvestment plan (\u201cDRIP\u201d).\u00a0Saratoga Investment\u00a0shareholders 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\u00a0Saratoga Investment
\nSaratoga Investment\u00a0is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, 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\u2019s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments.\u00a0\u00a0Saratoga Investment\u00a0has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by\u00a0Saratoga Investment Advisors, LLC, an\u00a0SEC-registered investment advisor focusing on credit-driven strategies.\u00a0\u00a0Saratoga Investment\u00a0owns an SBIC-licensed subsidiary and manages a\u00a0$500 million\u00a0collateralized loan obligation (\u201cCLO\u201d) fund.\u00a0 It also owns 100% of the Class F-R-2, G-R-2 and subordinated notes of the CLO.\u00a0 The Company\u2019s diverse funding sources, combined with a permanent capital base, enable\u00a0Saratoga Investment\u00a0to provide a broad range of financing solutions.<\/p>\n

Forward Looking Statements
\nThis 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\u00a0Saratoga Investment\u00a0makes with the\u00a0SEC.\u00a0Saratoga Investment\u00a0undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n

Contact<\/strong>:\u00a0Henri Steenkamp
\nSaratoga Investment Corp.
\n212-906-7800<\/p>\n

Roland Tomforde
\nBroadgate Consultants
\n212-232-2222<\/p>\n

\"logo.jpg\"<\/a><\/p>\n

Source: Saratoga Investment Corp<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

May 28, 2019 Saratoga Investment Corp. Increases Quarterly Dividend to $0.55 per Share Represents the 19th Sequential Quarterly Dividend Increase NEW YORK,\u00a0May 28, 2019\u00a0(GLOBE NEWSWIRE) —\u00a0Saratoga Investment Corp.\u00a0(NYSE:SAR) (\u201cSaratoga Investment\u201d or \u201cthe Company\u201d), a business development company, today announced that its Board of Directors has declared an increased quarterly dividend of\u00a0$0.55\u00a0per share for the fiscal […]<\/p>\n","protected":false},"author":1176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false,"footnotes":""},"categories":[9,10],"tags":[94,110,111,112,113],"class_list":["post-762","post","type-post","status-publish","format-standard","hentry","category-saratoga-posts","category-saratoga-press-releases","tag-press-release","tag-saratoga","tag-saratoga-corp","tag-saratoga-investment","tag-saratoga-investment-corp"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/762","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=762"}],"version-history":[{"count":0,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/762\/revisions"}],"wp:attachment":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/media?parent=762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/categories?post=762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/tags?post=762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}