Saratoga Investment Corp (NYSE:SAR) Q2 2025 Earnings Conference Call October 9, 2024 10:00 AM ET
Company Participants
Henri Steenkamp - Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary
Christian Oberbeck - Chairman and Chief Executive Officer
Michael Grisius - Chief Investment Officer
Conference Call Participants
Erik Zwick - Lucid Capital Markets
Robert Dodd - Raymond James
Mickey Schleien - Ladenburg Thalmann
Operator
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Saratoga Investment Corps’ 2025 Fiscal Second Quarter Financial Results Conference Call. Please note that today's call is being recorded.
During today's presentation, all parties will be in listen-only mode. Following management preparing marks we will open the line for questions.
At this time I'd like to turn the call over to Saratoga Investment Corp Chief Financial and Chief Compliance Officer, Mr. Henri Steenkamp. Please go ahead.
Henri Steenkamp
Thank you. I would like to welcome everyone to Saratoga Investment Corp's 2025 fiscal second quarter earnings conference call. Today's conference call includes forward-looking statements and projections. We ask you to refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these forward-looking statements and projections. We do not undertake to update our forward-looking statements unless required to do so by law.
Today we will be referencing a presentation during our call. You can find our fiscal second quarter 2025 shareholder presentation in the events and presentations section of our investor relations website. A link to our IR page is in the earnings press release distributed last night. A replay of this conference call will also be available. Please refer to our earnings press release for details.
I would now like to turn the call over to our Chairman and Chief Executive Officer, Christian Oberbeck, who will be making a few introductory remarks.
Christian Oberbeck
Thank you, Henri, and welcome, everyone. Saratoga Investment Corp highlights this quarter include the successful full repayment and resolution of our Noland investment, the last of our four non-accrual or watchlist investments in our portfolio resolved this past year. A return to increasing NAV per share and continued substantial over earning of our record level of dividends.
Our annualized second quarter dividend of $0.74 per share implies a 12.7% dividend yield based on the stock price of $23.26 per share on October 7, 2024. The substantial over earning of the dividends this quarter continue to support the current levels of dividends, increases NAV, supports increased portfolio growth, and provides a cushion against adverse events.