Oct. 8 at 8:14 PM
$SAR Saratoga Investment reports Q2 adjusted EPS
$1.33, consensus 94c
Reports Q2 NAV per share
$27.07. Christian Oberbeck, chairman and CEO of Saratoga Investment, commented, "Highlights this quarter include the successful full repayment and resolution of our Knowland investment, the last of our four non-accrual or watchlist investments in our portfolio resolved this past year, a return to increasing NAV per share and continued substantial overearning of our record level of dividends. Our annualized second quarter dividend of
$0.74 per share implies a 12.7% dividend yield based on the stock price of
$23.26 per share on October 7, 2024.
The substantial overearning of the dividend this quarter continues to support the current level of dividends, increases NAV, supports increased portfolio growth and provides a cushion against adverse events. This quarter's earnings continue to benefit from elevated levels of rates and spreads on Saratoga Investment's largely floating rate assets, while costs of long-term balance sheet liabilities are largely fixed but callable either now or in the future."
