Saga Communications, Inc. Announces Special Dividend, Payable on January 13, 2023
December 07, 2022 at 04:05 pm EST
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Saga Communications, Inc. announced that its Board of Directors has declared a special cash dividend of $2.00 per share on its Class A common stock. The dividend will be paid on January 13, 2023, to shareholders of record on December 21, 2022. The aggregate amount of the payment to be made in connection with the combined quarterly and special dividends will be approximately $13.6 million.
The quarterly and special cash dividends will be funded by cash on the Company's balance sheet. Including this dividend, the Company will have paid over $106.6 million in dividends to shareholders since the first special dividend was paid in 2012.
Saga Communications, Inc. is a media company engaged in acquiring, developing, and operating broadcast properties with a focus on opportunities complimentary to its core radio business, including digital, e-commerce and non-traditional revenue initiatives. The Company owns or operates broadcast properties in about 27 markets, including 79 frequency modulation (FM), 31 amplitude modulation (AM radio stations and 78 metro signals. The radio stations that it owns and/or operates employ a variety of programming formats, including Classic Hits, Country, Classic Country, Hot/Soft/Urban Adult Contemporary, Oldies, Classic Rock, Rock, and News/Talk. It operates in markets, including Asheville, Bellingham, Brattleboro, Bucyrus, Champaign, Charleston, Charlottesville, Clarksville, Columbus, Des Moines, Harrisonburg, Hilton Head Island, Jonesboro, Manchester, and Milwaukee, among others.
SAGA COMMUNICATIONS, INC. 
