Radio station owner Saga Communications has declared a quarterly cash dividend payable on October 22 to shareholders of record on October 8.
The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $960,000, as the quarterly cash dividend’s value has been pegged at $0.16 per share.
The quarterly cash dividend will be funded by cash on Saga’s balance sheet. Including this dividend, Saga will have paid over $73 million in dividends to shareholders since the first special dividend was paid in 2012.
Saga currently 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 may also consider declaring special cash dividends, stock dividends, and stock buybacks in the future,” Saga says.
Saga owns or operates 79 FM and 35 AM radio stations.