Saratoga Investment Corp., 8% Preferred Stock, due 10/31/2027

Saratoga Investment Corp., 8% Preferred Stock, due 10/31/2027, represents a type of equity security offering regular dividends, which come with a fixed dividend rate of 8% per annum. This preferred stock is issued by Saratoga Investment Corp., a business development company that provides financing solutions to middle-market companies. These preferred shares are traditionally seen as providing a steadier income stream compared to common stocks, as they come with a higher priority on earnings and assets during dividend distribution as well as in events of liquidation. Additionally, the shares are callable at the issuer's discretion and pay dividends on a cumulative basis, which ensures that unpaid dividends accumulate and must be paid out before any common stock dividends. Due in 2027, this security plays a significant role for investors seeking stable returns in an income-focused investment portfolio, aligning with the corporate goal of Saratoga Investment Corp. to deliver sustainable, incremental growth through diversified investment in U.S.-based middle-market firms.