Saratoga Investment declares $0.75 quarterly dividend for Q2 FY27
Saratoga Investment Corp. declared a $0.75 per share dividend for Q2 FY27, paid monthly at $0.25. The yield is 13.4% based on a $22.34 stock price. Shareholders can opt for cash or stock via DRIP.
*this image is generated using AI for illustrative purposes only.
Saratoga Investment Corp. declared a base quarterly dividend of $0.75 per share for the second quarter of fiscal 2027, maintaining its commitment to consistent shareholder income. The dividend will be paid in three monthly installments of $0.25 per share, with record and payment dates scheduled for July, August, and September 2026. This announcement marks the second group of dividends declared for fiscal year 2027.
Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment, stated that the board approved an unchanged quarterly dividend rate. Annualizing this dividend implies a 13.4% dividend yield based on Saratoga's recent stock price of $22.34 per share on June 9, 2026. The company continues to focus on delivering strong current income to its shareholders through regular distributions.
Dividend Payment Schedule
| Month | Amount per Share | Record Date | Payment Date |
|---|---|---|---|
| June 2026 | $0.25 | July 6, 2026 | July 23, 2026 |
| July 2026 | $0.25 | August 5, 2026 | August 25, 2026 |
| August 2026 | $0.25 | September 3, 2026 | September 23, 2026 |
Historical Dividend Distributions
| Period (Fiscal Year ends Feb) | Base Dividend Per Share | Special Dividend Per Share | Total Dividend Per Share |
|---|---|---|---|
| Fiscal Q2 2027 (August 2026) | $0.25 | - | $0.25 |
| Fiscal Q2 2027 (July 2026) | $0.25 | - | $0.25 |
| Fiscal Q2 2027 (June 2026) | $0.25 | - | $0.25 |
| Fiscal Q1 2027 (May 2026) | $0.25 | - | $0.25 |
| Fiscal Q1 2027 (April 2026) | $0.25 | - | $0.25 |
| Fiscal Q1 2027 (March 2026) | $0.25 | - | $0.25 |
| Total Declared in Fiscal 2027 | $1.50 | - | $1.50 |
| Full Year Fiscal 2026 | $3.00 | $0.25 | $3.25 |
| Full Year Fiscal 2025 | $2.96 | $0.35 | $3.31 |
| Full Year Fiscal 2024 | $2.86 | - | $2.86 |
| Full Year Fiscal 2023 | $2.44 | - | $2.44 |
Shareholders have the option to receive the dividend in cash or common stock through the company's dividend reinvestment plan (DRIP). Those holding shares with a broker must instruct their brokers prior to the record date to receive dividends in stock. The number of shares delivered will be determined by dividing the total dollar amount by 95% of the average market price per share over the ten trading days ending on the payment date.
Can Saratoga Investment sustain the current 13.4% dividend yield if interest rates decline or market volatility increases?
Will the company declare any special dividends in fiscal 2027 to match the supplemental distributions seen in previous years?
How might the company's capital allocation strategy shift if earnings volatility impacts the ability to maintain the base dividend?
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