---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-062058"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2025-07-08T23:59:59+00:00"
generated_at: "2026-05-18T09:04:09.333250+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Q1 adjusted NII up 17.9% QoQ to $0.66; ROE beats industry at 14.1% annualized

## Summary
- Adjusted NII per share $0.66, up 17.9% from $0.56 last quarter; total NII $10.1M.
- EPS $0.91 vs ($0.05) loss prior quarter; LTM ROE 9.3% beats BDC industry average 7.0%.
- NAV per share $25.52, down $0.34 QoQ; excluding one-time dividend policy change would be $26.02 (+0.6%).
- Base quarterly dividend of $0.75/sh declared for Q2 FY2026; 11.8% yield based on $25.44 stock price.
- New originations $50.1M in 2 new portfolio cos; repayments $64.3M; cash $224.3M.

## SEC filing metadata
- accession: 0001213900-25-062058
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2025-07-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390025062058/0001213900-25-062058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390025062058/ea0248333-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-062058
- JSON: https://secwatch.observer/filing/0001213900-25-062058.json
- Plain text: https://secwatch.observer/filing/0001213900-25-062058.txt

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