Saga Communications today announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share.
The dividend will be paid on June 22, 2018 to shareholders of record on May 31, 2018.
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.
Saga, including this dividend, will have paid $57.2 million in dividends to shareholders since the first special dividend was paid in 2012.
Saga 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, the radio broadcasting company notes.
Saga finished Tuesday’s trading down 55 cents to $37.75.