---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-055814"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2023-07-10T23:59:59+00:00"
generated_at: "2026-06-13T10:30:30.633421+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Q1 NII per share $1.35, up 105% YoY; AUM hits $1.08B

## Summary
- NII per share $1.35 (up 105% YoY, 67% QoQ); adjusted NII per share $1.08 (up 104% YoY); EPS ($0.02) on unrealized losses.
- AUM $1.084B (+21% YoY); net originations $129M; 96.5% loans rated highest; one non-accrual credit.
- Dividend raised 32% YoY to $0.70/share; 10.2% yield; overearned by $0.38 vs adjusted NII.
- Weighted average current coupon on core portfolio 12.7% (vs 8.5% YoY); 85% first lien floating rate.
- Raised $77.5M in fixed-rate notes; ATM program increased to $300M; $88.2M liquidity at quarter end.

## SEC filing metadata
- accession: 0001213900-23-055814
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2023-07-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055814/0001213900-23-055814-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055814/ea181545-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-055814
- JSON: https://secwatch.observer/filing/0001213900-23-055814.json
- Plain text: https://secwatch.observer/filing/0001213900-23-055814.txt

## Key facts
- Earnings Releases
  SARATOGA INVESTMENT CORP. reported the quarter ended May 31, 2023 results: revenue 34,632, net income 1.35, EPS (0.02).
  - Period: the quarter ended May 31, 2023
  - Revenue: 34,632
  - Net income: 1.35
  - EPS: (0.02)
  - Result: reported results
  source text: Investment Income 34,632 32,315 18,679 Net Investment Income per share 1.35 0.81 0.66 Adjusted Net Investment Income per share 1.08 0.98 0.53 Earnings per share (0.02 ) 1.62 (0.12 )
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055814/0001213900-23-055814-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.