SmarterDividends
SAY

Saratoga Investment Corp 8.125%

SAY

Stock · quarterly payer

$25.21

Fairly valued · +5% Add to Portfolio

Forward Yield

8.06%

Annual Dividend

$2.03

Payout Ratio

—

5-Yr Growth

—

Ex-Date

Nov 13, 2026

Frequency

Quarterly

Key facts about SAY's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Saratoga Investment Corp 8.125% (SAY) has a forward dividend yield of 8.06%, based on an annual dividend of $2.03 per share and a share price of $25.21.
  • As of Oct 18, 2026, SAY's dividend safety grade from SmarterDividends is B (68 out of 100), which rates the dividend as safe.
  • SAY has never cut its regular dividend in the payment history SmarterDividends has on record.
  • SAY's next ex-dividend date is Nov 13, 2026, with payment on Nov 30, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for SAY is $26.59 per share, 5% above the $25.21 share price, so SAY screens as fairly valued.
  • Saratoga Investment Corp 8.125% (SAY) pays its dividend quarterly, 4 times a year.
  • Saratoga Investment Corp 8.125% (SAY) has raised its regular dividend 1 time and cut it 0 times across the 15 payments on record since 2023. Its most recent change was a 15.5% increase to $0.508 per share, going ex-dividend on May 12, 2023.
Cite this page

SmarterDividends, "SAY Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/SAY

Summary

As of Oct 18, 2026, Saratoga Investment Corp 8.125% (SAY) yields 8.06% ($2.03 a year per share) and has a dividend safety grade of B (68/100).

Is SAY a good dividend stock?

Yes, with caveats

Saratoga Investment Corp 8.125% (SAY) pays a quarterly dividend yielding 8.06% ($2.03/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Never cut its dividend on record

Risks

  • Very high yield can signal elevated risk

Key Data

Dividend Yield
8.06%
Payout Ratio
—
Annual Dividend
$2.03
5-Yr Avg Growth
—
Ex-Dividend Date
Nov 13, 2026
Years of Growth
0
Frequency
quarterly
Beta
—
Market Cap
—
P/E Ratio
—
5-Yr Total Return
—
52-Week Range
$25.00 – $25.76
Dividend Safety
B · 68/100
Ever Cut?
No

SAY dividend raises and cuts

Saratoga Investment Corp 8.125% (SAY) has raised its regular dividend 1 time and cut it 0 times across the 15 payments on record since 2023. Its most recent change was a 15.5% increase to $0.508 per share, going ex-dividend on May 12, 2023.

Ex-dateChangeOld → newMove
May 12, 2023Raise$0.440 → $0.508+15.5%
Every SAY payment →Download every raise and cut (CSV)
SAY ex-dividend date & scheduleNext ex-date Nov 13, 2026 · full ex-dividend historyView →SAY dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is SAY a good dividend stock?

Yes, with caveats. Saratoga Investment Corp 8.125% (SAY) pays a quarterly dividend yielding 8.06% ($2.03/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Is SAY undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, SAY's fair value is about $26.59 versus a $25.21 share price — so it looks fairly valued (+5% vs. fair value).

Is SAY's dividend safe?

SAY has a dividend-safety grade of B (68/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is SAY's fair value?

Our blended fair-value estimate for SAY is about $26.59 per share, roughly 5% above the current $25.21 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is SAY a buy, hold, or sell?

We don't issue formal ratings, but on the data SAY screens as "yes, with caveats" and fairly valued. Saratoga Investment Corp 8.125% (SAY) pays a quarterly dividend yielding 8.06% ($2.03/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will SAY cut its dividend?

SAY earns a dividend-safety grade of B (68/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does SAY pay a dividend?

Yes. Saratoga Investment Corp 8.125% pays a quarterly dividend of about $2.03 per share annually, a forward yield of roughly 8.06%.

What is SAY's dividend yield?

As of Oct 18, 2026, SAY's forward dividend yield is 8.06%, based on a $2.03 annual dividend and a $25.21 share price.

What is SAY's dividend per share?

As of Oct 18, 2026, SAY pays $2.03 per share per year, distributed on a quarterly basis.

How many years has SAY grown its dividend?

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

When is the next SAY ex-dividend date?

As of Oct 18, 2026, the next ex-dividend date on record for SAY is Nov 13, 2026.

Income Calculator

At $2.03 / yr per share

Per payment (quarterly)$50.80
Annual$203.20
Monthly avg$16.93

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