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Nov 30, 2021
Saratoga Investment Q3 2022 Earnings Report
Reported financial results for the fiscal third quarter of 2022, showing resilience and strength.
Key Takeaways
Saratoga Investment Corp. reported a strong fiscal third quarter in 2022, with NAV per share reaching an historic high of $29.17. The company saw an increase in total investment income and adjusted net investment income. It invested $59 million in total originations and had $66 million in repayments. The Board of Directors increased the quarterly dividend by 1c per share, or 2%, and declared a 53c per share dividend for the quarter ended November 30, 2021.
NAV per share reached an historic high of $29.17.
Adjusted NII per share was $0.53.
Total originations in Q3 totaled $59 million invested, and repayments totaled $66 million.
Credit quality remained at a high level at quarter-end, with 95% of credits rated in the highest category.
Forward Guidance
Saratoga Investment has executed approximately $130.0 million of new originations in two new portfolio companies and nine follow-ons, and had repayments of approximately $10.5 million in one exit and realizations, for a net increase in investments of $119.5 million.
Positive Outlook
- Executed approximately $130.0 million of new originations
- New originations were in two new portfolio companies and nine follow-ons
- Had repayments of approximately $10.5 million in one exit and realizations
- Net increase in investments of $119.5 million
- Company has $76.0 million in undrawn SBA debentures from the most recently approved SBIC II license to finance new SBIC-eligible portfolio companies and support existing SBIC II investments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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