SAR BDC — Saratoga Investment Corp.

Saratoga Investment Corp. (SAR)

Updated October 16, 2026.

SAR is a BDC. its distribution rate is 19.58%, its trailing-12-month yield is 19.58%. Dividend Vision Distribution Safety Score™ is 50/100 (Caution). Total return is 512.4% over the past 15.9 years, 242.6 points behind SPY at 755.0%.

At the published price, recorded trailing 12-month cash corresponds to $1,958 per $10,000. Past cash distributions do not establish future income.

Saratoga Investment Corp. is a business development company that provides debt and equity financing to lower middle-market companies, typically investing between $60 million and $75 million per transaction through first and second lien loans, mezzanine debt, and equity stakes across diversified sectors including aerospace, healthcare, software, and manufacturing. The company currently distributes a high monthly dividend and carries no external expense ratio as a BDC. The security appeals to income-focused investors seeking monthly cash distributions from a diversified portfolio of middle-market lending and equity investments.

SAR performance versus SPY

Price and return data through 2026-10-16.

Total return is 512.4% over the past 15.9 years, 242.6 points behind SPY at 755.0%. Over the past year its total return — price change plus distributions reinvested — is -18.3%. Its deepest 1-year drawdown was 32.8%.

SAR key facts

Distribution Safety Score™

50 · Caution

Safety-Adjusted Yield

9.79%

Issuer

Saratoga Investment

Asset type

BDC

Asset class

Equity

Inception date

03/27/2007

Distribution rate

19.58%

Distribution frequency

Monthly

Trailing yield

19.58%

5-year average yield

10.63

Last close

$15.32 (stale; as of 2026-10-16)

Market cap

$238,373,654

Average volume

109588.0

Dividend

$0.25

Ex-dividend date

10/06/2026

Payment date

10/22/2026

Beta

0.62

Payout ratio

48.3%

Forward P/E

11.6822

EPS

$-0.28

How Dividend Vision calculates yield and returns

Distribution rate (19.58%) uses trailing 12-month split-adjusted cash distributions; includes specials and supplementals; divided by market price dated 2026-10-16. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (19.58%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Saratoga Investment; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SAR risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 32.8%.

Who may consider SAR — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on SAR

• All tickers starting with S

Tagged: BDC, Dividend.

Frequently asked questions

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