Saga Communications, Inc. Increases Quarterly Cash Dividend to $0.20 per Share

Rhea-AI Summary

Saga Communications (Nasdaq - SGA) has declared a quarterly cash dividend of $0.20 per share, up from $0.16. The dividend, amounting to approximately $1.2 million, will be paid on July 1, 2022, to shareholders of record on June 13, 2022. Since 2012, Saga has distributed over $79 million in dividends to its shareholders. The company plans to continue its regular quarterly cash dividends and may explore special cash dividends, stock dividends, and stock buybacks in the future.

Positive

• Quarterly cash dividend increased from $0.16 to $0.20 per share.
• Approximate total payment of $1.2 million for the dividend.
• Over $79 million paid in dividends since 2012 indicates strong commitment to shareholders.

Negative

• None.

GROSSE POINTE FARMS, Mich., June 02, 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 $0.20 per share. This is an increase from the previous quarterly dividend of $0.16 per share. The dividend will be paid on July 1, 2022, to shareholders of record on June 13, 2022. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.2 million. The quarterly cash dividend will be funded by cash on the Company’s balance sheet. Including this dividend, the Company will have paid over $79 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 global, 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 new dividend amount for Saga Communications (SGA)?

The new dividend amount is $0.20 per share.

When will the dividend for SGA be paid?

The dividend will be paid on July 1, 2022.

What was the previous dividend amount for Saga Communications (SGA)?

The previous dividend amount was $0.16 per share.

What is the total dividend payment amount for this quarter?

The total dividend payment amount for this quarter is approximately $1.2 million.

Since when has Saga Communications been paying dividends?

Saga has been paying dividends since 2012.