Saratoga Investment Corp (SAR) to Payout Dividend in Cash and/or Shares of Common Stock

Saratoga Investment Corp. (NYSE: SAR) announced the form in which the dividend declared by the Company's board of directors on November 12, 2010 will be paid and the results of its shareholders' elections relating to the dividend. The dividend of $4.40 per share was payable on December 29, 2010 to shareholders of record as of November 19, 2010. Shareholders who elected to receive the dividend solely in shares of common stock and shareholders who did not make an election will receive approximately 4.05 shares of common stock for each share of common stock they owned on the record date of November 19, 2010. Holders of approximately 47% of the Company's common stock elected to receive only stock or did not make an election. Shareholders electing to receive the dividend in all cash will receive cash in the amount of approximately $0.82 per share, or approximately 18.7% of the $4.40 dividend, and 0.20 shares of common stock, or approximately 81.3% of the total dividend for each share of common stock they owned on the record date of November 19, 2010.... Read more

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