SmarterDividends
SAR

Saratoga Investment Corp.

SAR

Financial Services · Asset Management · Stock · monthly payer

$13.32

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Forward Yield

22.52%

Annual Dividend

$3.00

Payout Ratio

306%

5-Yr Growth

-11.4%

Ex-Date

Nov 5, 2026

Frequency

Monthly

Key facts about SAR's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, Saratoga Investment Corp. (SAR) has a forward dividend yield of 22.52%, based on an annual dividend of $3.00 per share and a share price of $13.32.
  • As of Oct 27, 2026, SAR's dividend safety grade from SmarterDividends is D (45 out of 100), which rates the dividend as unsafe.
  • SAR last cut its regular dividend in 2025.
  • SAR's next ex-dividend date is Nov 5, 2026, with payment on Nov 24, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 27, 2026, SAR pays out 306% of its trailing 12-month earnings as dividends (its payout ratio).
  • SAR's dividend has shrunk at an average rate of 11.4% a year over the past five years.
  • As of Oct 27, 2026, SAR's 22.52% yield is 101% above its five-year average yield of 11.21%.
  • Saratoga Investment Corp. (SAR) pays its dividend monthly, 12 times a year.
  • Saratoga Investment Corp. (SAR) has raised its regular dividend 39 times and cut it 6 times across the 76 payments on record since 2007. Its most recent change was a 66.2% cut to $0.250 per share, going ex-dividend on Apr 8, 2025.
Cite this page

SmarterDividends, "SAR Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/SAR

Summary

As of Oct 27, 2026, Saratoga Investment Corp. (SAR) yields 22.52% ($3.00 a year per share) and has a dividend safety grade of D (45/100).

Is SAR a good dividend stock?

Mixed

Saratoga Investment Corp. (SAR) pays a monthly dividend yielding 22.52% ($3.00/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

    Risks

    • Cut its dividend in 2025
    • Elevated payout ratio (306%)
    • Dividend has been shrinking, not growing
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years
    • Below-average dividend safety score

    Key Data

    Dividend Yield
    22.52%
    Payout Ratio
    306%
    Annual Dividend
    $3.00
    5-Yr Avg Growth
    -11.4%
    Ex-Dividend Date
    Nov 5, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    0.62
    Market Cap
    $207.3M
    P/E Ratio
    —
    5-Yr Total Return
    -53%
    52-Week Range
    $13.39 – $24.07
    Dividend Safety
    D · 45/100
    Ever Cut?
    Yes (2025)

    SAR dividend raises and cuts

    Saratoga Investment Corp. (SAR) has raised its regular dividend 39 times and cut it 6 times across the 76 payments on record since 2007. Its most recent change was a 66.2% cut to $0.250 per share, going ex-dividend on Apr 8, 2025.

    Ex-dateChangeOld → newMove
    Apr 8, 2025Cut$0.740 → $0.250−66.2%
    Jun 13, 2024Raise$0.730 → $0.740+1.4%
    Mar 12, 2024Raise$0.720 → $0.730+1.4%
    Dec 8, 2023Raise$0.710 → $0.720+1.4%
    Sep 13, 2023Raise$0.700 → $0.710+1.4%
    Jun 12, 2023Raise$0.690 → $0.700+1.4%
    Mar 15, 2023Raise$0.680 → $0.690+1.5%
    Dec 14, 2022Raise$0.540 → $0.680+25.9%
    Sep 13, 2022Raise$0.530 → $0.540+1.9%
    Jan 3, 2022Raise$0.520 → $0.530+1.9%
    Sep 13, 2021Raise$0.440 → $0.520+18.2%
    Jun 14, 2021Raise$0.430 → $0.440+2.3%
    Show all 45 changes since 2007
    Ex-dateChangeOld → newMove
    Apr 7, 2021Raise$0.420 → $0.430+2.4%
    Jan 25, 2021Raise$0.410 → $0.420+2.4%
    Oct 23, 2020Raise$0.400 → $0.410+2.5%
    Jul 24, 2020Cut$0.560 → $0.400−28.6%
    Sep 12, 2019Raise$0.550 → $0.560+1.8%
    Jun 12, 2019Raise$0.540 → $0.550+1.9%
    Mar 13, 2019Raise$0.530 → $0.540+1.9%
    Dec 14, 2018Raise$0.520 → $0.530+1.9%
    Sep 14, 2018Raise$0.510 → $0.520+2.0%
    Jun 14, 2018Raise$0.500 → $0.510+2.0%
    Mar 13, 2018Raise$0.490 → $0.500+2.0%
    Dec 14, 2017Raise$0.480 → $0.490+2.1%
    Sep 14, 2017Raise$0.470 → $0.480+2.1%
    Jun 13, 2017Raise$0.460 → $0.470+2.2%
    Mar 13, 2017Raise$0.450 → $0.460+2.2%
    Jan 27, 2017Raise$0.440 → $0.450+2.3%
    Oct 27, 2016Raise$0.430 → $0.440+2.3%
    Jul 27, 2016Raise$0.410 → $0.430+4.9%
    Apr 13, 2016Raise$0.400 → $0.410+2.5%
    Jan 28, 2016Raise$0.360 → $0.400+11.1%
    Oct 29, 2015Raise$0.330 → $0.360+9.1%
    Jul 30, 2015Raise$0.270 → $0.330+22.2%
    Apr 30, 2015Raise$0.220 → $0.270+22.7%
    Jan 29, 2015Raise$0.180 → $0.220+22.2%
    Oct 30, 2014Cut$2.65 → $0.180−93.2%
    Nov 8, 2013Raise$0.600 → $2.65+341.7%
    Nov 22, 2011Raise$0.373 → $0.600+60.9%
    Nov 17, 2010Cut$2.46 → $0.373−84.8%
    Nov 23, 2009Cut$2.50 → $2.46−1.6%
    Dec 16, 2008Cut$3.90 → $2.50−35.9%
    Feb 27, 2008Raise$3.80 → $3.90+2.6%
    Nov 28, 2007Raise$3.60 → $3.80+5.6%
    Aug 22, 2007Raise$2.40 → $3.60+50.0%
    Every SAR payment →Download every raise and cut (CSV)
    SAR ex-dividend date & scheduleNext ex-date Nov 5, 2026 · full ex-dividend historyView →SAR dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is SAR a good dividend stock?

    Mixed. Saratoga Investment Corp. (SAR) pays a monthly dividend yielding 22.52% ($3.00/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

    Is SAR's dividend safe?

    SAR has a dividend-safety grade of D (45/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

    Is SAR a buy, hold, or sell?

    We don't issue formal ratings, but on the data SAR screens as "mixed". Saratoga Investment Corp. (SAR) pays a monthly dividend yielding 22.52% ($3.00/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

    Will SAR cut its dividend?

    SAR earns a dividend-safety grade of D (45/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does SAR pay a dividend?

    Yes. Saratoga Investment Corp. pays a monthly dividend of about $3.00 per share annually, a forward yield of roughly 22.52%.

    What is SAR's dividend yield?

    As of Oct 27, 2026, SAR's forward dividend yield is 22.52%, based on a $3.00 annual dividend and a $13.32 share price.

    What is SAR's dividend per share?

    As of Oct 27, 2026, SAR pays $3.00 per share per year, distributed on a monthly basis.

    What is SAR's dividend payout ratio?

    As of Oct 27, 2026, SAR's payout ratio is 306% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has SAR grown its dividend?

    SAR does not currently have a long dividend-growth streak on record.

    When is the next SAR ex-dividend date?

    As of Oct 27, 2026, the next ex-dividend date on record for SAR is Nov 5, 2026.

    Income Calculator

    At $3.00 / yr per share

    Per payment (monthly)$25.00
    Annual$300.00
    Monthly avg$25.00

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