Saratoga Investment Corp. Increases Quarterly Dividend by 26%, or $0.14, to $0.68 per Share for the Fiscal Third Quarter Ended November 30, 2022
“Our strong portfolio performance, healthy credit profile, robust deal pipeline, and ongoing asset growth are key attributes of our track record of delivering consistent financial performance and supports our goal of paying attractive, increasing quarterly dividends and providing leading risk-adjusted, accretive returns for our shareholders over the long-term,” said Christian
“This record 26% dividend increase reflects much of the significantly positive effects on earnings of our 95% floating rate loan asset portfolio and our largely fixed rate liabilities driving increased spread and overall portfolio yield as many lagging impacts from loan rate resets, exceeding LIBOR and SOFR floors, and costs of recent capital raises flow through. For reference, closing 3-month LIBOR was 3.1% at our last
This is the third dividend declared in fiscal year 2023, following the previously declared quarterly dividend of
Shareholders will have the option to receive payment of the dividend in cash or receive shares of common stock pursuant to the Company’s dividend reinvestment plan (“DRIP”).
Forward Looking Statements
Statements included herein contain certain “forward-looking statements” within the meaning of the federal securities laws, which relate to future events or our future performance or financial condition. Forward-looking statements can be identified by the use of forward looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of future events and our future performance, taking into account all information currently available to us. These statements are not guarantees of future events, performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not limited to the impact of the COVID-19 pandemic and the pandemic’s impact on the
Source: Saratoga Investment Corp