Another Strong Session For Saga
It was a mostly uneventful Monday before Christmas and Hanukkah for radio and TV companies on Wall Street, as the Dow Jones Industrials Average increased 39.65, to 19,883.06, and the NASDAQ composite grew 20.28, to 5,457.44. Viacom dipped 3.2%, to $38.25, while A.H. Belo Corp. slipped 2.3%, to $6.35.
On the flip side, The Walt Disney Co. gained 1.3%, to $105.30, while Saga Communications had another banner session, rising 3.2%, to $50.80. The broadcast company’s stock is trading at its highest closing price since March 2014, and its quarterly cash dividend of 30 cents per share – a rather generous one – will be paid Friday for shareholders of record as of Dec. 5.
The RBR Radio Index rose 5.215, or 0.85%, to 617.818.
The TVBR Television Index fell 3.785, or 0.39%, to 969.524.
Beasley, up 5.0%
Radio One, up 3.5%
Saga, up 3.2%
SBS, down 4.2%
Tribune Media, down 1.8%
Cumulus, down 1.8%