In a volatile market, it would be awfully nice to have a dividend income stream that keeps on growing. What would be even better, though, is locking in that income stream at a near-double-digit yield. A Dividend Growth Stock Most People Have Never Heard Of...
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Sounds too good to be true? Well, just take a look at Saratoga Investment Corp (NYSE:SAR). On Tuesday, November 27, the company announced that it had declared a quarterly cash dividend of $0.53 per share, representing a two-percent increase from its previous payment. The dividend will be paid on January 9, 2019 to shareholders of record as of December 17, 2018. I know, a two-percent payout increase is nothing to brag about. But note this: the announcement marked the company’s 17th consecutive quarterly dividend hike. At the new dividend rate, Saratoga Investment Corp offers an annual yield of 9.8%.
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D4L:
Thanks for pointing out this BDC. As you mention, a 2% increase doesn't seem like much, but with the quarterly increases the annualized dividend growth is over 8% - not too shabby.
I'll be doing some research on SAR. Thanks for the heads up!
Cheers,
Jason (Harvesting Dividends)