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

Rhea-AI Summary

Saga Communications has declared a quarterly cash dividend of $0.25 per share, payable on June 27, 2025, to shareholders of record on June 6, 2025. The total dividend payment will amount to approximately $1.6 million, funded from the company's cash reserves. Since 2012, Saga has distributed over $138 million in dividends. The company plans to continue regular quarterly dividends and has announced intentions to implement stock buybacks in 2025, potentially funded by proceeds from non-core asset sales. Saga operates in 28 markets, owning 82 FM stations, 31 AM stations, and 79 metro signals, focusing on broadcast properties and digital initiatives.

Positive

• Regular quarterly dividend of $0.25 per share maintained
• Strong dividend history with over $138 million paid since 2012
• Plans for stock buybacks announced for 2025
• Potential sale of non-core assets to fund shareholder returns
• Solid cash position enabling dividend payments from balance sheet

Negative

• Dividend payment will reduce cash reserves by $1.6 million
• Future dividends and buybacks subject to Board discretion and financial conditions

GROSSE POINTE FARMS, Mich., May 27, 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 June 27, 2025, to shareholders of record on June 6, 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 over $138 million in dividends to shareholders since the first special dividend was paid in 2012.

The Company currently intends to declare regular quarterly cash dividends in the future. Further, as part of its overall capital allocation plan for fiscal year 2025, Saga has announced it intends to use a portion of the proceeds from the potential sale of non-core assets to fund stock buybacks, which may include open market repurchases, block trades or other forms of buybacks. 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 31 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

What is SGA's latest quarterly dividend amount and payment date?

Saga Communications (SGA) declared a quarterly dividend of $0.25 per share, payable on June 27, 2025, to shareholders of record on June 6, 2025.

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

Saga Communications has paid over $138 million in dividends to shareholders since the first special dividend was paid in 2012.

What is Saga Communications' plan for stock buybacks in 2025?

Saga plans to implement stock buybacks in 2025, potentially funded by proceeds from non-core asset sales, which may include open market repurchases, block trades, or other forms of buybacks.

How many radio stations does Saga Communications currently operate?

Saga owns or operates 82 FM and 31 AM radio stations, along with 79 metro signals across 28 markets.

What is the total amount of SGA's upcoming quarterly dividend payment?

The aggregate amount of the quarterly dividend payment will be approximately $1.6 million.