Trailing Dividend / Share
$2.93
Saratoga Investment Corp 8.00% (SAJ) Dividend History
Income profile from 2023 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
11.4%
Payout Ratio
1.5%
Sustainable
Dividend Streak
4 years
SAJ Dividend Income Check
Safety
1.5% payout ratio with sustainable safety profile.
Consistency
4 straight years of dividend increases.
Income Trend
Yield on cost is 8.1% and trend is unknown.
SAJ Dividend Scorecard
Yield & Income
Dividend Yield11.4%
Trailing DPS$2.93
FrequencySemi-Annual
Payments / 12M5
Payout Safety
Earnings Payout1.5%
Earnings SafetySustainable
FCF Payout177.8%
FCF SafetyStretched
Piotroski F-Score8/9
Growth
Growth Streak4 years
3Y CAGR22.7%
5Y CAGR9.9%
Yield on Cost (5Y)8.1%
YOC Trendunknown
Total Returns
Buyback Yield0.0%
Total Shareholder Yield11.4%
1Y Total Return7.9%
5Y Total Return30.4%
Div Contribution (5Y)27.0%
Estimated $10K growth (return + dividends):
5Y ago$13,04010Y ago$13,04020Y ago$13,040
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
SAJ Income Growth Story
Dividend per share and yield on cost over time (4 years of payments)
SAJ Dividend Safety Story
EPS is the container — dividend is what's drawn out
Dividend Analysis
Payout Safety
Saratoga Investment Corp 8.00% distributes 1.5% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 177.8%, rated "Stretched".
Piotroski F-Score: 8/9 — strong financial health.
Growth Track Record
SAJ has raised its dividend for 4 consecutive years, with a 3-year CAGR of 22.7% and 5-year CAGR of 9.9%.
Total Shareholder Returns
Beyond cash dividends, SAJ returns capital through share repurchases. The combined picture: 11.4% dividend yield, 11.4% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 8.1% and is currently unknown. The 5-year total return is 30.4%, with dividends contributing 27.0% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $13,040 today.
FCF payout is stretched — the dividend consumes a large share of free cash flow.
SAJ Recent Dividend Payments
Last 14 payments · Semi-Annual
TTM Total$7.19
Avg/Payment$0.5135
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| May 15, 2026Latest | $0.5000 | — | 7.82% | Jun 1, 2026 |
| Feb 13, 2026 | $0.5000 | — | 7.90% | Mar 2, 2026 |
| Nov 14, 2025 | $0.5000 | — | 7.92% | Dec 1, 2025 |
| Aug 15, 2025 | $0.5000 | — | 7.93% | Sep 2, 2025 |
| May 15, 2025 | $0.5000 | — | 7.87% | Jun 2, 2025 |
| Feb 14, 2025 | $0.5000 | — | 7.93% | Feb 28, 2025 |
| Nov 15, 2024 | $0.5000 | — | 7.98% | Dec 2, 2024 |
| Aug 15, 2024 | $0.5000 | — | 8.01% | Sep 3, 2024 |
SAJ Dividend vs Peers
Comparable companies in the same industry
#5 yield in peer group
Div Yield
11.4%
#5 of 9
Safety
Sustainable
1.5% payout
Streak
4Y
9.9% 5Y CAGR
Total Shareholder
11.4%
#6 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| SAJSaratoga Investment … | $414M | 11.4% | 1.5% | 4 | Sustainable |
1st  SARSaratoga Investment … | $363M | 100.0% | — | 5 | Unknown |
 GAINGladstone Investment… | $657M | 10.0% | 93.3% | 0 | At Risk |
 GLADGladstone Capital Co… | $452M | 12.2% | 95.5% | 4 | At Risk |
 MRCCMonroe Capital Corpo… | $110M | 0.2% | 1.8% | 0 | Sustainable |
2nd  TPVGTriplePoint Venture … | $243M | 17.1% | 83.9% | 0 | Watch |
 ARCCAres Capital Corpora… | $13.6B | 2.0% | — | 0 | Unknown |
3rd  FSCOFS Credit Opportunit… | $1.0B | 13.9% | 75.3% | 3 | Watch |
 GBDCGolub Capital BDC, I… | $3.4B | 10.5% | 97.9% | 0 | At Risk |
SAJ Annual Dividend History (2007–2026)
20 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $1.00 | — | 2 | — | — | — | 4.0% |
| 2025 | $2.00 | 0.0% | 4 | $2.02 | 99.0% | 1.01x | 8.1% |
| 2024 | $2.00 | -8.6% | 4 | $0.71 | 281.7% | 0.35x | 8.1% |
| 2023 | $2.19 | — | 4 | $2.06 | 106.3% | 0.94x | 8.8% |
| 2022 | $0.00 | — | 0 | $3.99 | — | — | — |
| 2021 | $0.00 | — | 0 | $1.32 | — | — | — |
| 2020 | $0.00 | — | 0 | $5.98 | — | — | — |
| 2019 | $0.00 | — | 0 | $2.63 | — | — | — |
| 2018 | $0.00 | — | 0 | $2.93 | — | — | — |
| 2017 | $0.00 | — | 0 | $1.98 | — | — | — |
See SAJ's True Return
Price is only half the story. See total return with reinvested dividends.
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Start ComparisonSAJ — Frequently Asked Questions
Quick answers to the most common questions about buying SAJ stock.
How much dividend does SAJ pay per share?
Saratoga Investment Corp 8.00% (SAJ) pays a trailing 12-month dividend of $2.93 per share, with a current dividend yield of +11.4%. Payments are made Semi-Annual.
When is SAJ's next ex-dividend date?
SAJ's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. SAJ typically pays dividends Semi-Annual.
Is SAJ's dividend safe?
SAJ's dividend safety is rated "Sustainable" based on an earnings payout ratio of +1.5% and FCF payout ratio of +177.8%. The 4-year growth streak provides moderate confidence.
Is SAJ a Dividend Payer?
Yes, Saratoga Investment Corp 8.00% is classified as a Dividend Payer with 4 consecutive years of dividend increases. The 5-year dividend CAGR is +9.9%, demonstrating above-inflation dividend growth.
How often does SAJ pay dividends?
Saratoga Investment Corp 8.00% pays dividends Semi-Annual. The trailing 12-month total is $2.93 per share. Dividend data on this page covers 3+ years from 2023 to 2026.
How much would $10,000 invested in SAJ grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in SAJ five years ago would be worth approximately $13,040 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is SAJ's yield on cost for long-term holders?
SAJ's yield on cost — the current dividend divided by the original purchase price — is +8.1% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +11.4% market yield, thanks to consistent dividend growth.