GROSSE POINTE FARMS, Mich.,
Sept. 13, 2017 /PRNewswire/ -- Saga
Communications, Inc. (NYSE American: SGA) today announced that its
Board of Directors declared a quarterly cash dividend of
$0.30 per share. The dividend
will be paid on October 13, 2017 to
shareholders of record on September
25, 2017. The aggregate amount of the payment to be
made in connection with the quarterly dividend will be
approximately $1.8 million. The
quarterly cash dividend will be funded by cash on the Company's
balance sheet.
The Company intends to pay regular quarterly cash dividends in
the future as declared by the Board of Directors. Consistent
with returning value to our shareholders, the Board of Directors
will also consider declaring special cash dividends, stock
dividends, and stock buybacks in the future.
Saga is a broadcasting company whose business is devoted to
acquiring, developing and operating broadcast properties.
Saga owns or operates broadcast properties in 26 markets, including
75 FM, 33 AM radio stations and 64 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
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words such as "believes,"
"expects," "anticipates," "guidance," "intent" and similar
expressions are intended to identify forward-looking
statements. Key risks, including risks associated with Saga's
ability to effectively integrate the stations it acquires and the
impact of federal regulation on Saga's business, are described in
the reports Saga periodically files with the U.S. Securities and
Exchange Commission, including Item 1A of our Annual Report on Form
10-K. Readers should note that these statements may be
impacted by several factors, including national and local economic
changes and changes in the radio and television broadcast industry
in general, as well as Saga's actual performance. Results may
vary from those stated herein and Saga undertakes no obligation to
update the information contained here.
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SOURCE Saga Communications, Inc.