Saratoga Investment Corp. (SAR) to Issue Quarterly Dividend of $0.74 on June 27th

Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Stockholders of record on Thursday, June 13th will be given a dividend of 0.74 per share by the financial services provider on Thursday, June 27th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 12.49%. The ex-dividend date is Thursday, June 13th. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.73.

Saratoga Investment has increased its dividend by an average of 27.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years.

Saratoga Investment Stock Up 0.4 %

SAR opened at $23.69 on Friday. The stock has a market capitalization of $324.55 million, a P/E ratio of 33.37 and a beta of 1.28. Saratoga Investment has a one year low of $22.35 and a one year high of $28.87. The business’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $24.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.07 and a current ratio of 0.07.

Analyst Ratings Changes

SAR has been the topic of several research analyst reports. StockNews.com raised Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Oppenheimer downgraded Saratoga Investment from an “outperform” rating to a “market perform” rating and cut their price target for the company from $24.00 to $23.00 in a report on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.69.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.