Business

Is It Time To Review Stock News? Saratoga Investment Corp. (NYSE:SAR)

  Saratoga Investment Corp. (NYSE:SAR) spotted trading -4.62% off 52-week high price. On the other end, the stock has been noted 32.20% away from the low price over the last 52-weeks. The stock changed 0.49% to recent value of $24.59. The stock transacted 65119 shares during most recent day however it has an average volume of 69.19K shares. The company has 8.02M of outstanding shares and 5.16M shares were floated in the market.  

 On Aug. 27, 2019, Saratoga Investment Corp. (NYSE:SAR) (Saratoga Investment or the Company), a business development company, disclosed that its Board of Directors has declared an increased quarterly dividend of $0.56 per share for the fiscal quarter ended August 31, 2019, payable on September 26, 2019, to all stockholders of record at the close of business on September 13, 2019.

This increase is the twentieth sequential increase to the Company’s quarterly dividends.  The Company paid a quarterly dividend of $0.55 per share for the quarter ended May 31, 2019, $0.54 per share for the quarter ended February 28, 2019, $0.53 per share for the quarter ended November 30, 2018, $0.52 per share for the quarter ended August 31, 2018, and $0.51 per share for the quarter ended May 31, 2018, as well as quarterly throughout fiscal years 2018, 2017 and 2016.

This quarter’s dividend reflects almost five years of increased quarterly dividends, said Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment. This further increase is supported by our ability to consistently generate strong investment income and increased net asset value and net asset value per share over the long-term, despite market volatility. This continues to differentiate us in the BDC industry, and underscores the value of our high quality management team, disciplined credit analysis and investment sourcing pipeline.

Saratoga Investment has increased its regular quarterly dividends each of the past twenty quarters from $0.18 per share for the third quarter of fiscal 2015 to $0.56 per share for this second quarter of fiscal 2020.

 Its earnings per share (EPS) expected to touch remained 8.00% for this year.

  The price moved ahead of 0.14% from the mean of 20 days, 0.59% from mean of 50 days SMA and performed 5.39% from mean of 200 days price. Company’s performance for the week was 0.65%, -2.65% for month and YTD performance remained 23.57%.

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