Saratoga Investment Corp. Announces Quarterly Dividend of $0.74 Per Share for the Fiscal Third Quarter Ending November 30, 2024

Core Points - Saratoga Investment Corp. declared a base quarterly dividend of $0.74 per share and a special dividend of $0.35 per share for the fiscal third quarter ending November 30, 2024, fulfilling fiscal 2024 distribution requirements [1][2][3] - The total distributions for the fiscal third quarter amount to $1.09 per share, which is the highest in the company's history [1][2] - The annualized dividend rate implies a 12.7% dividend yield based on a recent stock price of $23.31 per share [2] - The special distribution was driven by substantial overearning of dividends during the previous fiscal year, fulfilling fiscal 2024 spillover requirements [3] - The company has declared three dividends in fiscal year 2025, maintaining industry-leading dividend coverage and yield [3] Dividend History - For fiscal Q3 2025, the base dividend per share is $0.74, special dividend per share is $0.35, totaling $1.09 [4] - Year-to-date fiscal 2025 total dividends amount to $2.57 per share, including the pending special dividend [4] - Historical dividends show a consistent increase, with the base dividend per share rising from $0.53 in fiscal Q1 2023 to $0.74 in fiscal Q2 and Q3 2025 [4] Company Overview - Saratoga Investment is a specialty finance company providing customized financing solutions to U.S. middle-market businesses, primarily investing in senior and unitranche leveraged loans and mezzanine debt [6] - The company aims to create attractive risk-adjusted returns through current income and long-term capital appreciation from its investments [6] - Saratoga Investment is regulated as a business development company and is externally managed by Saratoga Investment Advisors, LLC [6]