Saratoga Investment Corp. Increases Quarterly Dividend by $0.01, or 1.4%, to $0.74 per Share for the Fiscal First Quarter Ended May 31, 2024

                                                      Contact: Henri Steenkamp
                                                            Saratoga Investment Corp.
                                                                               212-906-7800
                                                                                                                                                                                       

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a quarterly dividend of $0.74 per share for the fiscal first quarter ended May 31, 2024, an increase of $0.01 from $0.73 per share in the prior fiscal fourth quarter, and the seventeenth quarterly dividend increase in a row. This is the first dividend for fiscal year 2025, after total dividends for fiscal year 2024 of $2.85 per share was an increase of 16.8% over the prior year. This first quarter dividend is payable on June 27, 2024, to all stockholders of record at the close of business on June 13, 2024.