Saga Communications, Inc. Declares a Quarterly Cash Dividend of $0.25 per Share

Rhea-AI Summary

Saga Communications (SGA) has announced a quarterly cash dividend of $0.25 per share, payable on March 7, 2025, to shareholders of record as of February 18, 2025. The total dividend payment will amount to approximately $1.6 million and will be funded from the company's cash reserves.

Since initiating dividend payments in 2012, Saga has distributed approximately $137 million in dividends to shareholders. The company's Board has adopted a variable dividend policy focused on maintaining a strong balance sheet, increasing shareholder returns, and pursuing strategic acquisitions. The policy allows for regular quarterly dividends, variable dividends, special dividends, and potential stock buybacks.

Saga currently operates in 28 markets, managing 82 FM and 32 AM radio stations, along with 79 metro signals.

Positive

• Consistent dividend payment maintained at $0.25 per share
• Strong cash position enabling dividend payments from balance sheet
• Significant historical dividend distribution of $137 million since 2012
• Flexible capital return policy including regular, variable, and special dividends

Negative

• None.

GROSSE POINTE FARMS, Mich., Feb. 05, 2025 (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 March 7, 2025, to shareholders of record on February 18, 2025. 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 $137 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 www.sagacom.com.

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

FAQ

When will Saga Communications (SGA) pay its next quarterly dividend?

Saga Communications will pay its quarterly dividend of $0.25 per share on March 7, 2025, to shareholders of record as of February 18, 2025.

How much is Saga Communications' (SGA) total quarterly dividend payment?

The total quarterly dividend payment will be approximately $1.6 million.

How much has Saga Communications (SGA) paid in total dividends since 2012?

Saga Communications has paid approximately $137 million in dividends to shareholders since the first special dividend was paid in 2012.

What is Saga Communications' (SGA) current dividend policy?

Saga Communications has adopted a variable dividend policy that includes regular quarterly cash dividends and variable dividends, with the possibility of special dividends and stock buybacks, all subject to Board discretion and company performance.

How many radio stations does Saga Communications (SGA) currently operate?

Saga Communications operates 82 FM and 32 AM radio stations, along with 79 metro signals across 28 markets.