Saratoga Investment Corp. Increases Quarterly Dividend From $0.72 To $0.73 Per Share
Portfolio Pulse from Benzinga Newsdesk
Saratoga Investment Corp. (NYSE:SAR) announced an increase in its quarterly dividend from $0.72 to $0.73 per share for Q4 fiscal year 2024, marking the sixteenth consecutive quarterly increase. The annual dividend rate now implies a 12.8% yield based on the recent stock price of $22.77. The company attributes this growth to high interest rates on floating rate assets and portfolio expansion in selected industry segments. Dividends for fiscal year 2024 total $2.85 per share, a 16.8% increase over the previous year. The dividend is payable on March 28, 2024, to shareholders of record as of March 13, 2024. Shareholders have the option to receive the dividend in cash or stock through the DRIP program.
February 15, 2024 | 1:42 pm
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POSITIVE IMPACT
Saratoga Investment Corp. increases its quarterly dividend to $0.73 per share, indicating strong financial health and confidence in future earnings. This move could attract dividend investors and potentially boost the stock's appeal in the short term.
The increase in dividend is a positive signal to the market, reflecting Saratoga Investment Corp.'s strong earnings and optimistic outlook. Historically, dividend increases can lead to positive investor sentiment, potentially driving up the stock price in the short term. The consistent growth in dividends, coupled with a high yield based on the current stock price, makes SAR an attractive option for income-focused investors.
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IMPORTANCE 90
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