Saga Communications hikes dividend by 25%

Saga Communications, Inc. (SGA) has 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.

A new annual dividend rate of 80 cents per share will yield 3.5% at a stock price of $22.89 for SAGA.

Saga Communications, Inc. 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 77 metro signals. The company's segments are Radio, Television, and Corporate and Other. Saga Communications became a public company in 1992 and had been paying a dividend every year since 2014.