Saga Communications Announces Quarterly Dividend for Stakeholders
Saga Communications Declares Quarterly Cash Dividend
Saga Communications, Inc. (Nasdaq: SGA), a prominent media company, has officially announced that its Board of Directors has approved a quarterly cash dividend of $0.25 per share. This strategic decision underscores the company's commitment to delivering value to its shareholders. The dividend payment is scheduled for October 18, and it is aimed at shareholders who are on record as of September 25.
Financial Implications of the Dividend
The anticipated aggregate payment for this quarterly dividend will be approximately $1.6 million, demonstrating Saga's position to utilize its cash reserves effectively. Since the inception of its first special dividend in 2012, Saga will have returned roughly $134 million to its shareholders through dividend payouts, highlighting its enduring dedication to shareholders.
Commitment to Shareholder Returns
Saga's Board remains committed to declaring regular quarterly cash dividends aligned with its variable dividend policy. This policy is designed to allocate available cash efficiently, ensuring a strong balance sheet while enhancing cash returns to its shareholders. Such proactive financial strategies will also facilitate strategic growth initiatives.
Future Dividend Considerations
The possibility of declaring special dividends, alongside stock buybacks in future periods, is also on the table. However, any decisions related to future dividend declarations or stock buybacks will rest entirely with the Board, factoring in the company's financial health and broader economic conditions.
Core Business Operations
Saga Communications is not just about dividends; it is a dynamic media company focusing on acquiring, developing, and operating broadcast properties. It operates in 28 markets with an impressive portfolio that includes 82 FM and 32 AM radio stations along with 79 metro signals. This diverse operation model is complemented by a growing emphasis on digital, e-commerce, and various non-traditional revenue initiatives.
Contact Information
For any inquiries or further information, interested parties can reach out to Samuel D. Bush at (313) 886-7070. More details about Saga Communications can also be found on their official website at www.sagacom.com.
Frequently Asked Questions
What is the announced dividend amount by Saga Communications?
Saga Communications has declared a quarterly cash dividend of $0.25 per share.
When will the dividend be paid?
The dividend is scheduled to be paid on October 18 to shareholders who are on record as of September 25.
How much has Saga paid in dividends since 2012?
Since 2012, Saga Communications will have paid approximately $134 million in dividends to its shareholders.
What is Saga's variable dividend policy?
Saga's variable dividend policy aims to allocate available cash while maintaining a strong balance sheet and increasing cash returns to shareholders.
Who should I contact for more information about Saga's dividends?
For more information, you can contact Samuel D. Bush at (313) 886-7070.
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