Saratoga Investment Corp. Increases Quarterly Dividend From $0.71 To $0.72 Per Share
Portfolio Pulse from Benzinga Newsdesk
Saratoga Investment Corp. (NYSE:SAR) has increased its quarterly dividend from $0.71 to $0.72 per share for the fiscal third quarter ended November 30, 2023. This marks the fifteenth consecutive quarterly dividend increase. The dividend is payable on December 28, 2023, to shareholders of record as of December 11, 2023. The company attributes the increase to record earnings driven by high interest rates on floating rate assets, portfolio growth, and fixed rate liabilities. The annualized dividend rate suggests an 11.5% yield and a 17.2% earnings yield based on the recent stock price of $25.06 as of November 13, 2023. Shareholders can opt for cash payment or stock through the dividend reinvestment plan (DRIP).
November 15, 2023 | 1:32 pm
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POSITIVE IMPACT
Saratoga Investment Corp. has announced an increase in its quarterly dividend to $0.72 per share, reflecting strong earnings and portfolio performance. The dividend yield is approximately 11.5%, with an earnings yield of 17.2% based on the current stock price.
The increase in dividend is a positive signal to investors, indicating the company's confidence in its financial stability and commitment to shareholder returns. The consistent increase in dividends, coupled with a high dividend yield and earnings yield, is likely to be viewed favorably by investors, potentially leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100