Saga Coms Stock Price, News & Analysis

Saga Communications reported a 6.0% increase in net revenue to $114.9 million for the year ended December 31, 2022, compared to $108.3 million the previous year. However, the results were impacted by one-time payments due to the passing of founder Ed Christian. Station operating expenses rose by 5.2% to $87.5 million.

Net income decreased to $9.2 million from $11.2 million, with diluted earnings per share at $1.52. The company declared a $0.25 quarterly dividend and has paid $108.3 million in dividends since 2012. Cash and short-term investments were $46.9 million as of December 31, 2022.

Saga Communications, Inc. (Nasdaq - SGA) has announced a quarterly cash dividend of $0.25 per share, set to be paid on April 7, 2023, to shareholders on record by March 20, 2023. This dividend payment will total approximately $1.5 million, bringing the total dividends paid since 2012 to over $108.3 million. The company plans to continue declaring cash dividends and may implement a variable dividend policy based on cash flow, with a possibility of additional dividends in the future. In 2022, Saga declared approximately $29.6 million in quarterly and special dividends.

Saga Communications, Inc. (Nasdaq: SGA) will release its 4th Quarter and Year End 2022 results on March 9, 2023, at 9:00 a.m. EST. A conference call is scheduled for the same day at 11:00 a.m. EST, with a domestic and international dial-in number of (973) 528-0008 and entry code 622772. The company encourages inquiries to be submitted by email to SagaIR@sagacom.com by 10:00 a.m. EST. The earnings release will include non-GAAP financial measures such as station operating income and free cash flow, with reconciliations provided. Saga operates broadcast properties in 27 markets, with 79 FM and 35 AM stations.

Saga Communications (Nasdaq: SGA) announced a quarterly cash dividend of $0.25 and a special cash dividend of $2.00 per share, totaling approximately $13.6 million, payable on January 13, 2023. This brings the total dividends paid to over $106.6 million since 2012. The new variable dividend policy will allocate future dividends based on annual free cash flow. Additionally, the company appointed Warren S. Lada as Chairman and noted the rejection of an unsolicited acquisition offer. Saga remains focused on growth through strategic acquisitions while maintaining financial strength.

Saga Communications has appointed Christopher Forgy as the new President and CEO, effective December 7, 2022. Forgy has been with the company since 2018 as Senior Vice President of Operations. He aims to advance Saga's strategy in unique markets, continuing the legacy of founder Ed Christian. Additionally, Wayne Leland has been promoted to Senior Vice President of Operations, effective January 3, 2023. The leadership changes are expected to enhance operational performance and bring new ideas to the company while maintaining its core values.

Saga Communications (Nasdaq - SGA) reported its Q3 2022 financial results, showing a 3.9% increase in net revenue to $30.0 million. Station operating expenses rose by 2.8% to $22.3 million, marking a 4.1% rise in station operating income to $8.9 million. The company experienced a net loss of $104,000 compared to a net income of $3.5 million in Q3 2021. Adjusted figures suggest operating income could have increased by 5.8% to $4.9 million without one-time expenses related to the late founder. The company paid a quarterly dividend of $0.25 and a special dividend of $2.00 on October 21, 2022.

Saga Communications, Inc. (Nasdaq: SGA) is set to release its 3rd Quarter 2022 earnings on November 3, 2022, at 9:00 a.m. EDT, followed by a conference call at 11:00 a.m. EDT. Participants can dial in at (973) 528-0008 with the entry code 902265. The earnings release will include non-GAAP financial measures, such as station operating income and free cash flow, with reconciliations provided. The company operates radio properties in 27 markets, comprising 79 FM and 35 AM stations.

Saga Communications, Inc. (SGA) announced a quarterly cash dividend increase to $0.25 per share and a special cash dividend of $2.00 per share, payable on October 21, 2022, to shareholders of record by October 3, 2022. The total cash outlay for these dividends will be approximately $13.6 million, contributing to over $93 million in dividends paid since 2012. The Board expressed confidence in Saga’s financial strength and future operational goals, aiming to maintain a consistent dividend issuance.

Saga Communications announced the passing of its founder, Chairman, President, and CEO, Ed Christian, on August 19, 2022. Warren Lada, a board member and former COO, has been appointed as the Interim CEO. Under Ed's leadership since 1986, Saga expanded to own 79 FM and 35 AM radio stations, alongside 80 translator stations in 27 markets, and became publicly traded in 1992 under the ticker symbol SGA. The company acknowledges Ed's significant impact on the broadcast industry and expresses condolences to his family and colleagues.