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Saratoga Investment Corp (SAR) Q4 2026 Earnings Call Transcript

Saratoga Investment (SAR) came out with quarterly earnings of $0.53 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.56 per share a year ago.

Reports 13.4% Increase in AUM and 0.9% Increase in NAV Year-Over-Year Annual ROE of 9.1% Beats Previous Year ROE of 7.5% and the BDC Industry Average of 4.3% Net Deployments of $101.1 Million for the Fourth Fiscal Quarter 2026, Supporting Five New Platforms and Fifteen Follow-Ons Non-Accruals Remain Low at 0.2% of Fair Value and 1.2% of Cost NEW YORK, May 05, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development company (“BDC”), today announced financial results for its 2026 fiscal year and fourth quarter ended February 28, 2026. Summary Financial Information The Company's summarized financial information is as follows:   For the years ended and as of ($ in thousands, except per share) February 28, 2026   February 28, 2025   February 29, 2024 Assets Under Management (AUM) 1,109,134   978,078   1,138,794 Net Asset Value (NAV) 396,156   392,666   370,224 NAV per share 24.42   25.86   27.12 Total Investment Income 125,713   148,855   143,720 Net Investment Income (NII) per share 2.32   3.81   4.49 Adjusted NII per share 2.37   3.81   4.10 Earnings per share 2.31   2.02   0.71 Dividends per share (record date) 3.74*   3.30**   2.82 Return on Equity – last twelve months 9.1%   7.5%   2.5% Originations 309,502   168,077   246,101 Repayments 178,890   312,113   30,271             * Actual dividend of $3.74 per share, includes the additional special dividend of $0.25 per share declared during fiscal 2026 third quarter ** Actual dividend of $3.30 per share, includes the additional special dividend of $0.35 per share declared during fiscal 2025 third quarter     For the three months ended and as of ($ in thousands, except per share) February 28, 2026   November 30, 2025   February 28, 2025 Assets Under Management (AUM) 1,109,134   1,015,950   978,078 Net Asset Value (NAV) 396,156   413,207   392,666 NAV per share 24.42   25.59   25.86 Total Investment Income 31,123   31,646   31,295 Net Investment Income (NII) per share 0.48   0.61   0.56 Adjusted NII per share 0.53   0.61   0.56 Earnings per share (0.16)   0.74   (0.05) Dividends per share (record date) 1.00*   1.09**   0.72 Return on Equity – last twelve months 9.1%   9.7%   7.5%   – annualized quarter (2.6%)   13.5%   (0.7%) Originations 135,139   72,122   41,802 Repayments 34,020   54,943   15,867             * Actual dividend of $1.00 per share, includes the additional special dividend of $0.25 per share declared during fiscal 2026 third quarter ** Actual dividend of $1.09 per share, includes the additional special dividend of $0.35 per share declared during fiscal 2025 third quarter Christian L.

NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results for the fiscal quarter ended February 28, 2026, on Tuesday May 5, 2026, after market close. A conference call to discuss the financial results will be held on Wednesday May 6, 2026. Details for the conference call are provided below.

Currently, BDCs provide very high-yield opportunities. The fact that additional interest rate cuts are unlikely to happen this year should theoretically support the existing levels. Yet for most BDCs, the damage has already been done.

NEW YORK, March 17, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a base quarterly dividend of $0.75 per share in aggregate for the first quarter of fiscal 2027, paid in three monthly dividends as follows: Month Amount per Share Record Date Payment Date March 2026 $0.25 April 7, 2026 April 23, 2026 April 2026 $0.25 May 5, 2026 May 21, 2026 May 2026 $0.25 June 4, 2026 June 23, 2026 “Our board of directors approved an unchanged aggregated dividend for the first quarter of fiscal 2027 of $0.75 per share, paid in monthly dividends of $0.25 per share per month. Annualizing this dividend rate implies a 13.6% dividend yield based on Saratoga's recent stock price of $22.06 per share on March 13, 2026.

Saratoga Investment Corp. has issued a new 7.5% baby bond due 2031, callable in 2028 and after. SAV proceeds will redeem $175M of 4.375% 2026 Notes, reducing SAR's total debt by $75M and strengthening its asset coverage ratio. SAR maintains a stable portfolio, with long-term returns above sector averages and adequate dividend coverage for interest payments.