Saga Communications, Inc. Declares a Quarterly Cash Dividend of $0.16 per Share

Rhea-AI Summary

Saga Communications, Inc. (Nasdaq - SGA) announced a quarterly cash dividend of $0.16 per share, payable on April 8, 2022, to shareholders recorded by March 21, 2022. The total payout will be approximately $970 thousand, contributing to over $78 million in dividends paid since 2012. The company plans to continue regular quarterly dividends and may consider special dividends or stock buybacks in the future, reflecting its commitment to returning value to shareholders.

Positive

• Quarterly cash dividend of $0.16 per share enhances shareholder returns.
• Total dividends paid since 2012 surpass $78 million, demonstrating a strong commitment to investor returns.
• Future plans include regular dividends and potential special dividends or stock buybacks.

Negative

• None.

GROSSE POINTE FARMS, Mich., March 01, 2022 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company”, “Saga” or “our”) today announced that its Board of Directors declared a quarterly cash dividend of $0.16 per share. The dividend will be paid on April 8, 2022, to shareholders of record on March 21, 2022. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $970 thousand. The quarterly cash dividend will be funded by cash on the Company’s balance sheet. Including this dividend, the Company will have paid over $78 million in dividends to shareholders since the first special dividend was paid in 2012.

The Company currently intends to pay regular quarterly cash dividends in the future as declared by the Board of Directors. Consistent with returning value to our shareholders, the Board of Directors may also consider declaring special cash dividends, stock dividends, and stock buybacks in the future.

Saga is a broadcasting company whose business is devoted to acquiring, developing, and operating broadcast properties. Saga owns or operates broadcast properties in 27 markets, including 79 FM, 34 AM radio stations and 79 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “will,” “may,” “believes,” “expects,” “anticipates,” “guidance” and similar expressions are intended to identify forward-looking statements. Key risks, including risks associated with Saga’s ability to effectively integrate the stations it acquires and the impact of federal regulation on Saga’s business, are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including Item 1A of our Annual Report on Form 10-K. Readers should note that these statements may be impacted by several factors, including national and local economic changes, changes in the radio broadcast industry in general, and the effects of the ongoing COVID-19 pandemic, as well as Saga’s actual performance. Results may vary from those stated herein and Saga undertakes no obligation to update the information contained here.

FAQ

What is the dividend amount announced by Saga Communications (SGA) in March 2022?

Saga Communications announced a quarterly cash dividend of $0.16 per share.

When will the dividend for Saga Communications be paid?

The dividend will be paid on April 8, 2022.

What is the record date for the dividend payment from Saga Communications?

The record date for the dividend payment is March 21, 2022.

How much has Saga Communications paid in dividends since 2012?

Since 2012, Saga Communications has paid over $78 million in dividends.

Will Saga Communications continue to pay dividends in the future?

Yes, Saga Communications intends to pay regular quarterly cash dividends in the future.