Saratoga Investment Corp (NYSE:SAR) announced a quarterly dividend on Wednesday, November 29th, NASDAQ reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.49 per share by the financial services provider on Wednesday, December 27th. This represents a $1.96 annualized dividend and a dividend yield of 8.75%. The ex-dividend date is Thursday, December 14th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.48.

Saratoga Investment has a payout ratio of 83.5% 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 to earn $2.21 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 86.9%.

Shares of Saratoga Investment (SAR) opened at $22.39 on Thursday. Saratoga Investment has a 52-week low of $17.56 and a 52-week high of $23.78. The company has a market cap of $133.46, a PE ratio of 11.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.11 and a current ratio of 0.11.

SAR has been the subject of several research reports. Compass Point raised shares of Saratoga Investment from a “neutral” rating to a “buy” rating in a research report on Friday, October 13th. Maxim Group upped their price target on shares of Saratoga Investment to $24.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Saratoga Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. National Securities reaffirmed a “neutral” rating and set a $23.00 price target on shares of Saratoga Investment in a research report on Monday, October 16th. Finally, Janney Montgomery Scott initiated coverage on shares of Saratoga Investment in a research report on Friday, October 6th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Saratoga Investment has an average rating of “Buy” and an average target price of $24.33.

An institutional investor recently bought a new position in Saratoga Investment stock. Northern Trust Corp bought a new position in Saratoga Investment Corp (NYSE:SAR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter. 17.53% of the stock is owned by institutional investors.

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Saratoga Investment Company Profile

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.

Dividend History for Saratoga Investment (NYSE:SAR)

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