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Saga Communications, Inc. (Symbol: SGA) is a prominent broadcast company primarily engaged in the acquisition, development, and operation of radio stations, television stations, and state radio networks. With a strategic focus on mid-sized markets, Saga operates an impressive portfolio of broadcast properties across 25 markets. This includes 62 FM and 30 AM radio stations, a state radio network, 2 farm radio networks, 4 television stations, and 4 low power television stations.
Saga Communications employs a variety of programming formats to cater to diverse audience preferences, including classic hits, adult contemporary, active rock, oldies, news/talk, country, and classical music. Their television stations are affiliated with major networks such as CBS and FOX in Joplin, MO, and ABC, FOX, NBC, Telemundo, and Univision in Victoria, TX.
The company’s operating strategy emphasizes the development of strong, decentralized local management teams that handle the day-to-day operations of each station. This approach ensures that each station can effectively serve its local community while maintaining high operational standards. Saga Communications generates most of its revenue through the sale of advertising slots on its various broadcast platforms.
Recent achievements for Saga include expanding its market reach and enhancing its broadcasting capabilities. The company continually seeks to improve its services through technological advancements and strategic partnerships. Financially, Saga Communications maintains a solid position, reflected in its consistent performance and cash flow as indicated in its financial statements.
Saga’s commitment to quality broadcasting and local engagement has made it a significant player in the mid-sized market broadcasting industry. Investors and stakeholders can look forward to continued growth and innovation as the company pursues its objective of leading in top billing radio and television stations.
Saga Communications, Inc. (Nasdaq: SGA) will release its 1st Quarter 2023 results on May 3, 2023, at 9:00 a.m. EDT, followed by a conference call at 11:00 a.m. EDT. Participants are encouraged to submit questions via email by 10:00 a.m. EDT on the same day. The earnings report will include non-GAAP financial measures such as station operating income and free cash flow, with reconciliations to GAAP measures provided. Saga operates in 27 markets with a portfolio including 79 FM and 33 AM radio stations.
Saga Communications reported a 6.0% increase in net revenue to $114.9 million for the year ended December 31, 2022, compared to $108.3 million the previous year. However, the results were impacted by one-time payments due to the passing of founder Ed Christian. Station operating expenses rose by 5.2% to $87.5 million.
Net income decreased to $9.2 million from $11.2 million, with diluted earnings per share at $1.52. The company declared a $0.25 quarterly dividend and has paid $108.3 million in dividends since 2012. Cash and short-term investments were $46.9 million as of December 31, 2022.
Saga Communications, Inc. (Nasdaq - SGA) has announced a quarterly cash dividend of $0.25 per share, set to be paid on April 7, 2023, to shareholders on record by March 20, 2023. This dividend payment will total approximately $1.5 million, bringing the total dividends paid since 2012 to over $108.3 million. The company plans to continue declaring cash dividends and may implement a variable dividend policy based on cash flow, with a possibility of additional dividends in the future. In 2022, Saga declared approximately $29.6 million in quarterly and special dividends.
Saga Communications, Inc. (Nasdaq: SGA) will release its 4th Quarter and Year End 2022 results on March 9, 2023, at 9:00 a.m. EST. A conference call is scheduled for the same day at 11:00 a.m. EST, with a domestic and international dial-in number of (973) 528-0008 and entry code 622772. The company encourages inquiries to be submitted by email to SagaIR@sagacom.com by 10:00 a.m. EST. The earnings release will include non-GAAP financial measures such as station operating income and free cash flow, with reconciliations provided. Saga operates broadcast properties in 27 markets, with 79 FM and 35 AM stations.
Saga Communications (Nasdaq: SGA) announced a quarterly cash dividend of $0.25 and a special cash dividend of $2.00 per share, totaling approximately $13.6 million, payable on January 13, 2023. This brings the total dividends paid to over $106.6 million since 2012. The new variable dividend policy will allocate future dividends based on annual free cash flow. Additionally, the company appointed Warren S. Lada as Chairman and noted the rejection of an unsolicited acquisition offer. Saga remains focused on growth through strategic acquisitions while maintaining financial strength.
Saga Communications has appointed Christopher Forgy as the new President and CEO, effective December 7, 2022. Forgy has been with the company since 2018 as Senior Vice President of Operations. He aims to advance Saga's strategy in unique markets, continuing the legacy of founder Ed Christian. Additionally, Wayne Leland has been promoted to Senior Vice President of Operations, effective January 3, 2023. The leadership changes are expected to enhance operational performance and bring new ideas to the company while maintaining its core values.
Saga Communications (Nasdaq - SGA) reported its Q3 2022 financial results, showing a 3.9% increase in net revenue to $30.0 million. Station operating expenses rose by 2.8% to $22.3 million, marking a 4.1% rise in station operating income to $8.9 million. The company experienced a net loss of $104,000 compared to a net income of $3.5 million in Q3 2021. Adjusted figures suggest operating income could have increased by 5.8% to $4.9 million without one-time expenses related to the late founder. The company paid a quarterly dividend of $0.25 and a special dividend of $2.00 on October 21, 2022.
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