Saratoga Investment Corp (SAR) to Issue Quarterly Dividend of $0.48 on September 26th
Saratoga Investment Corp (NYSE:SAR) announced a quarterly dividend on Monday, August 28th, Wall Street Journal reports. Investors of record on Friday, September 15th will be paid a dividend of 0.48 per share by the financial services provider on Tuesday, September 26th. This represents a $1.92 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date is Thursday, September 14th. This is an increase from Saratoga Investment Corp’s previous quarterly dividend of $0.47.
Saratoga Investment Corp has a dividend payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Saratoga Investment Corp to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 93.2%.
Shares of Saratoga Investment Corp (NYSE:SAR) traded up 1.11% during midday trading on Friday, reaching $21.80. The company had a trading volume of 13,494 shares. The stock has a market capitalization of $130.08 million, a PE ratio of 13.81 and a beta of 0.51. The stock’s 50 day moving average is $20.99 and its 200-day moving average is $21.68. Saratoga Investment Corp has a 12-month low of $17.17 and a 12-month high of $23.78.
Saratoga Investment Corp (NYSE:SAR) last announced its quarterly earnings results on Wednesday, July 12th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $8.71 million for the quarter. Saratoga Investment Corp had a return on equity of 8.03% and a net margin of 26.84%. On average, equities research analysts predict that Saratoga Investment Corp will post $1.62 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Maxim Group assumed coverage on Saratoga Investment Corp in a report on Thursday. They issued a “buy” rating and a $23.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Saratoga Investment Corp in a report on Thursday. Zacks Investment Research upgraded Saratoga Investment Corp from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a report on Thursday, July 27th. Finally, National Securities assumed coverage on Saratoga Investment Corp in a report on Tuesday, August 29th. They issued a “neutral” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.33.
A hedge fund recently bought a new stake in Saratoga Investment Corp stock. Northern Trust Corp bought a new stake in Saratoga Investment Corp (NYSE:SAR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,213 shares of the financial services provider’s stock, valued at approximately $213,000. Northern Trust Corp owned approximately 0.17% of Saratoga Investment Corp as of its most recent SEC filing. Institutional investors own 17.04% of the company’s stock.
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About Saratoga Investment Corp
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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