In June 2021, radio industry pure-play Saga Communications restored its quarterly dividend, suspended one year earlier in response to the COVID-19 pandemic’s ravaging of U.S. financial markets.
Since then, cash payouts of $0.16, and $0.20, per share were declared by the company’s Board of Directors. Now, the Saga board has declared a quarterly cash dividend that is even richer for shareholders.
A quarterly cash dividend of $0.25 per share was declared.
The dividend will be paid on April 7, to shareholders of record on March 20.
The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.5 million.
The quarterly dividend will be funded by cash on the company’s balance sheet. Including this dividend, Saga will have paid over $108.3 million in dividends to shareholders since the first special dividend was paid in 2012.
Saga shares finished Wednesday’s trading at $24. The company reports its Q4 and full-year 2022 earnings on Thursday, March 9.
No analysts polled by Yahoo! track Saga, which enjoys a 19.2% equity interest stake from Daniel Tisch’s Towerview LLC and a 10.1% stake from FMR LLC.
