Saga Communications, Inc. Declares Quarterly Cash Dividend of $0.25 per Share
Saga Communications, Inc. Declares Quarterly Cash Dividend of $0.25 per Share
Saga Communications declares a quarterly dividend of $0.25 per share, totaling approximately $1.6 million, payable December 13, 2024.
Quiver AI Summary
Saga Communications, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.25 per share, set to be paid on December 13, 2024, to shareholders on record as of November 25, 2024. The total payment will amount to approximately $1.6 million, funded by the company's cash reserves. Since initiating its first special dividend in 2012, Saga has distributed about $135 million in dividends to its shareholders. The company plans to continue declaring regular and variable dividends as part of its strategy to maintain a solid balance sheet while enhancing shareholder returns and pursuing growth through acquisitions. Future dividend decisions will depend on the company's financial performance and other relevant factors.
Potential Positives
- The Board of Directors declared a quarterly cash dividend of $0.25 per share, demonstrating ongoing commitment to returning capital to shareholders.
- The dividend payment, totaling approximately $1.6 million, reflects the company's strong financial position and ability to generate cash flow.
- Since 2012, Saga has paid approximately $135 million in dividends, highlighting a consistent history of shareholder returns.
- The company intends to continue declaring regular and variable dividends as part of its commitment to enhancing shareholder value while maintaining a strong balance sheet.
Potential Negatives
- The declaration of a quarterly cash dividend of $0.25 per share may indicate financial strain, as the company is using cash from its balance sheet to fund the dividend amid potential uncertainties in the radio broadcast industry.
- The press release emphasizes that future dividends and stock buybacks are at the discretion of the Board, which could signal potential instability or unpredictability in the company's financial outlook.
- Reference to risks and uncertainties related to forward-looking statements might raise concerns among investors about the company's future performance, especially given the emphasis on global, national, and local economic changes impacting the company.
FAQ
What is the amount of the quarterly cash dividend announced by Saga Communications?
The quarterly cash dividend announced by Saga Communications is $0.25 per share.
When will the dividend be paid to shareholders?
The dividend will be paid on December 13, 2024, to shareholders of record on November 25, 2024.
How much will Saga pay in total for this dividend?
The total amount payable for this quarterly dividend will be approximately $1.6 million.
What is the company's history with dividends since 2012?
Since 2012, Saga Communications has paid approximately $135 million in dividends to its shareholders.
Will Saga Communications continue to declare dividends in the future?
Yes, Saga intends to declare regular quarterly cash dividends and may also declare special dividends or implement stock buybacks.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SGA Hedge Fund Activity
We have seen 16 institutional investors add shares of $SGA stock to their portfolio, and 19 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ROYCE & ASSOCIATES LP removed 64,032 shares (-30.5%) from their portfolio in Q3 2024
- JANE STREET GROUP, LLC removed 24,919 shares (-100.0%) from their portfolio in Q2 2024
- ACUITAS INVESTMENTS, LLC added 24,875 shares (+21.3%) to their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC removed 17,060 shares (-100.0%) from their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 14,293 shares (+11.6%) to their portfolio in Q3 2024
- LOKKEN INVESTMENT GROUP LLC removed 12,180 shares (-100.0%) from their portfolio in Q2 2024
- MORGAN STANLEY removed 10,947 shares (-32.9%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GROSSE POINTE FARMS, Mich., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the "Company", "Saga" or "our") today announced that its Board of Directors ("Board") declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on December 13, 2024, to shareholders of record on November 25, 2024. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the Company's balance sheet. Including this dividend, the Company will have paid approximately $135 million in dividends to shareholders since the first special dividend was paid in 2012.
The Company currently intends to declare regular quarterly cash dividends as well as variable dividends in accordance with the terms of its variable dividend policy. As previously reported, our Board adopted a variable dividend policy for the allocation of available cash aligned with the goals of maintaining a strong balance sheet, increasing cash returns to shareholders, and continuing to grow the Company through strategic acquisitions. The Company may also declare special dividends and implement stock buybacks in future periods. The declaration and payment of any future dividend, whether fixed, special, or based on the variable policy, or the implementation of any stock buyback program will remain at the full discretion of the Board and will depend on the Company's financial results, cash requirements, future expectations, and other pertinent factors.
Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a growing focus on opportunities complimentary to our core radio business including digital, e-commerce and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 32 AM radio stations and 79 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at
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This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as "will," "may," "believes," "intends," "expects," "anticipates," "guidance," and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga's actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement.
Contact:
Samuel D. Bush
(313) 886-7070
