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May 31, 2023
Saratoga Investment Q1 2024 Earnings Report
Announced fiscal first quarter 2024 financial results with increased NII per share and adjusted NII per share.
Key Takeaways
Saratoga Investment Corp. reported strong fiscal first quarter 2024 financial results, driven by growth in AUM and margin improvement from rising rates. NII per share increased significantly, and the company saw record key performance indicators, including sequential quarterly adjusted NII per share increases and dividend growth.
Adjusted NII per share increased by 10% sequentially and 104% year-over-year.
Assets under Management grew to more than $1.084 billion with net originations of approximately $129 million since year-end.
Dividend increased to $0.70 per share, up 32% from Q1 last year and over earned by 54% as compared to this quarter’s $1.08 per share adjusted NII.
Company raised $77.5 million in long-term, fixed rate capital to support growth.
Forward Guidance
The company remains confident in its experienced management team, high underwriting standards and ability to steadily grow portfolio size and maintain quality and investment performance over the long-term.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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